The biggest index mover was again NDX, reversing back up 7.15%. The top forex mover was again NZDUSD up 2.21%. Bitcoin was flat but Ethereum fell hard, and FANGs broadly followed NDX as you would expect.
Last week's AUDJPY short lost 0.94%, which means I am ahead 8.52% this year, with 11/19 (57.9%) wins. This week I am selling USDJPY, the safest dollar short.
NEXT WEEK
Outside the US we have inflation from Germany and Eurozone, and GDP from Canada and Australia. Also affecting CAD is the expected 50bp rate hike from the BoC on Wednesday, and also any surprise action at Thursday's OPEC meeting. The consensus is an increase in output by 432kbpd, which is actually more than anyone other than Saudi Arabia and the UAE can manage. Various PMI releases are all expected to show slight contraction, except China manufacturing, the only one in negative (under 50) territory.
Also next week has several holidays, with Memorial Day on Monday, a two-day break in the UK for the Queen's Jubilee, and Friday is the Dragon Boat festival. Given the holidays, and the fact that equities are currently consolidating around a key SPX long-term fib point, volatility is likely be low, and there may be more action in currencies.
CALENDAR (all times are GMT, volatile items in bold)
09:00 Eurozone Business Climate/Consumer Confidence
12:00 Germany CPI (e8.0% p7.8%)
15:00 Fed Waller speech
23:30 Japan Jobs/Unemployment
23:50 Japan Industrial Production
23:50 Japan Retail Sales
01:00 China PMIs (Mfr e49.6 p47.4)
07:55 Germany Unemp Rate/Change
09:00 Eurozone CPI (Core e3.5% p3.5%)
12:30 Canada Q1 GDP (YoY e5.7% p6.7%)
13:00 US Housing/Home Price Indices
13:45 Chicago PMI
14:00 US Consumer Confidence
22:30 Aus AiG Mfg Index
Wednesday June 1
01:30 Australia GDP (QoQ e0.6% p3.4%)
01:45 China Caixin Mfr PMI
06:00 Germany Retail Sales (e4.0% p-2.7%)
07:55 Germany S&P Mfr PMI
08:30 UK S&P Mfr PMI
09:00 Eurozone Unemp Rate
13:30 Canada S&P Mfr PMI
13:45 US S&P Mfr PMI
14:00 US ISM Mfr PMI (e54.5 p55.4)
14:00 BoC Rate Decision/Statement (e1.5% p1.0%)
15:30 Fed Williams speech
17:00 Fed Bullard speech
18:00 Fed Beige Book
Thursday June 2
01:30 Australia TB (e9.50B p9.31B)
08:00 OPEC Meeting
12:15 US ADP (e280k p247k)
12:30 US Jobless Claims
14:00 US Factory Orders
14:45 BoC Beaudry speech
22:30 Aus AiG Construction Index
23:00 Aus S&P Svcs PMI
Friday June 3
06:00 Germany TB
07:55 Germany S&P Comp PMI
08:00 Eurozone S&P Comp PMI
09:00 Eurozone Retail Sales (YoY e5.4% p0.8%)
12:30 US NFP/AHE/UnEmp (e310k p428k)
13:45 US S&P Svcs/Comp PMI
14:00 US ISM Svcs PMI (e56.0 p57.1)