Adam posted on the seasonals to watch for this month: May forex seasonals: The consensus and the conventional wisdom are wrong
He noted:
- Seasonally, May is the best month for the DXY over the past 20 years, averaging a 0.66% gain. it's risen in May in 9 of the past 11 years.
ANZ note similar, saying this will weigh on the euro.
- May has typically been the best month for USD performance
- this may put pressure on the euro, and indeed ... "We saw a little taste of that on Friday with the largest one-day fall in EUR in over a year"
- strategists including Daniel Been wrote in a note
Friday's EUR drop noted below:
