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May 11, 2026

North American Summary and Highlights 11 May
Freemium Article

May 11, 2026 7:48 PM UTC

Overview - In a quiet session the USD was little changed overall. 

Preview: Due May 21 - U.S. May S and P PMIs - Manufacturing to correct lower, services stable but subdued
Paying Article

May 11, 2026 6:17 PM UTC

We expect a correction lower in May’s S and P manufacturing PMI to a still firm 53.5 from 54.5, but an unchanged S and P services PMI at a still subdued 51.0.

FX Daily Strategy: APAC, May 12th
Paying Article

May 11, 2026 4:55 PM UTC

Volatility keeps compressing while the 'dash for compute' o/b rally and options arm wrestle goes on
No break in trend but if the fever breaks, USD and JPY correct
US CPI data to keep the Fed in defensive wait and see mode
Focus starts to turn to US-China meetings

Chart USD/BRL Update: Fresh year lows
Paying Article

May 11, 2026 4:09 PM UTC

Consolidation around 5.0000 has given way to anticipated losses

Chart USD/CAD Update: Consolidating - daily studies rising
Freemium Article

May 11, 2026 3:59 PM UTC

Little change, as prices extend cautious trade beneath congestion resistance at 1.3700

EUR/USD, EUR/GBP flows: Tame day; existing home sales remain contained at yield penalty
Paying Article

May 11, 2026 2:38 PM UTC

Contained trade, US existing home sales remain contained as yields rise

U.S. April Existing Home Sales - Flat picture, downside risk
Paying Article

May 11, 2026 2:13 PM UTC

April existing home sales at 4.02m were slightly softer than expected and up only 0.2% from March, but with March revised up to 4.01m from 3.98m the net result can be seen as close to consensus, while trend continues to have little direction.

Chart AUD/USD Update: Cautious trade - background studies rising
Paying Article

May 11, 2026 1:29 PM UTC

Little change, as prices extend cautious trade beneath the current year high around the 0.7280~ high of June 2022

Chart USD/JPY Update: Limited tests higher
Paying Article

May 11, 2026 1:10 PM UTC

Cautious trade is giving way to a push higher

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Preview: Due May 12 - U.S. April CPI - Energy, air fares and a housing distortion
Freemium Article

May 11, 2026 12:28 PM UTC

We now expect April CPI to increase by 0.6% overall and 0.4% ex food and energy, with respective gains before rounding being 0.57% and 0.41%. Energy is likely to add close to 0.2% to the overall gain and feed through from energy is likely to add around 0.1% to the core, largely in air fares. There i

Chart EUR/CAD Update: Consolidating test higher - studies rising
Paying Article

May 11, 2026 10:26 AM UTC

The break above 1.6100 has been pushed back sharply from 1.6150

FX Weekly Strategy: N America, May 11th-15th
Paying Article

May 11, 2026 9:18 AM UTC

Positive risk tone last week suggests good news largely priced in
JPY may have scope to gain on the crosses
CAD watching oil, but underperformance can extend
GBP likely toppy against the EUR

EUR/USD, AUD/NZD, GBP flows: Positioning shows little net dollar hedge, Aussie cross stretched (IMM)
Paying Article

May 11, 2026 9:03 AM UTC

Mixed positioning, but market shows little USD hedge overall, still risks being the pain trade? Natural AUD/NZD positioning stretched

Chart USD/CHF Update: Consolidating - studies under pressure
Paying Article

May 11, 2026 8:20 AM UTC

Little change, as prices extend cautious trade above support at the 0.7770 Fibonacci retracement

Chart USD Index DXY Update: Further consolidation - background studies under pressure
Paying Article

May 11, 2026 8:03 AM UTC

Little change, as prices extend consolidation around congestion support at 98.00

Chart EUR/USD Update: Cautious trade - studies improving
Paying Article

May 11, 2026 7:52 AM UTC

The anticipate test higher has met selling interest just beneath congestion resistance at 1.1800

Chart GBP/USD Update: Further consolidation
Freemium Article

May 11, 2026 7:38 AM UTC

The test above congestion resistance at 1.3600 has met selling interest beneath further congestion around 1.3660

Psychology for major markets May 11
Paying Article

May 11, 2026 7:27 AM UTC

No Fireworks Over the Weekend

NOK flows: Usual Monday oil bounce, EUR/NOK sitting on support
Paying Article

May 11, 2026 6:40 AM UTC

EUR/NOK still pressing support area after 'usual' weekend negative comments and oil bounce. More downside scope on spreads.

USD/JPY flows: The Lid Is Barely On
Paying Article

May 11, 2026 4:55 AM UTC

USD/JPY Rose Again

FX Weekly Strategy: Europe, May 11th-15th
Paying Article

May 11, 2026 4:07 AM UTC

Positive risk tone suggests good news largely priced in
JPY may have scope to gain on the crosses
CAD weakness can extend
GBP likely toppy against the EUR

Chart GBP/USD Update: Pressuring resistance at 1.3600/50
Freemium Article

May 11, 2026 1:53 AM UTC

Still limited above the 1.3600 level but pressure building on the upside as prices extend bounce from the 1.3512/00 support

Chart EUR/USD Update: Higher in choppy trade
Paying Article

May 11, 2026 1:43 AM UTC

Higher in choppy trade as prices extend gains from the 1.1655 low of 30 April to approach resistance at 1.1800 level

AUD/USD flows: Off to a Poor Start
Paying Article

May 11, 2026 1:29 AM UTC

Weekend headlines pessimistic

Chart USD/JPY Update: Consolidating
Paying Article

May 11, 2026 12:54 AM UTC

Edging higher in consolidation above the 156.00 level following bounce from the 155.00 spike low