FX will be a little quieter than normal with two holidays today:
- UK Bank Holiday, Spring Bank Holiday
- US Memorial Day holiday (US bonds, equities closed, FX will have lower liquidity than usual)
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Heads up for UK and US holidays today, Monday 31 May 2021
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- FT: Trump is pushing for 15 – 20% minimum tariff on all EU goods. EURUSD moves lower.
- NZ business confidence crashes to -10.6 in April as cost shock rattles outlook - more
- PBOC sets USD/ CNY reference rate for today at 6.8628 (vs. estimate at 6.8414)
- New Zealand April business confidence in the hole at minus 10.6% vs. +32.5% in March
- Japan March industrial output falls 0.5% as Hormuz closure hits chemicals and fuels
- A desperate Trump pitches Maritime Freedom Construct coalition to reopen Strait of Hormuz
- PBOC is expected to set the USD/CNY reference rate at 6.8414 – Reuters estimate
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