Meme stocks had a big turnaround
Shares of AMC went for a wild ride today in the latest meme stock mania. The company closed Thursday at $26.75 then soared to $36.72 at the open before turning around to finish 1.5% lower at $26.12.

Weekly futures forex positioning data from the CFTC:
The pound was the top performer this month in the G10 space and it got a bit of late-month love from speculators as the net position grew to the largest since early March. The high for the year was +36K in March.

A look at FX monthly performance and the chart
The pound was easily the best performer this month gaining 2.68% against the US dollar, followed by CAD and CHF. The yen was the laggard, down 0.45% and AUD was the only other G10 currency down against the dollar.

WTI crude oil down on the day
WTI crude oil finished the day down 53-cents to $66.32. It had risen as high as $67.52.
On the week, oil was up 4.3%.
Technically though, this is looking like another failure to break to new highs. The OPEC+ decision is coming up on Tuesday and that’s the next big driver,

The pair sits near the lows for the day as the dollar holds a slight advance
The dollar is posting a slight advance once again ahead of North American trading, with EUR/USD now trading back towards the lows around 1.2174.

European stocks keep higher, US futures also holding to gains
The risk mood is keeping firmer across the board in European trading, with not much to really spook investors yet perhaps.

All awaiting the US PCE data later today
The market moves so far today have been tentative at best. While the dollar has pared most of its advance against some major currencies, it is still holding slight gains against commodity currencies at the moment – though nothing too significant.

Forex news from the European trading session – 27 May 2021
Headlines:
Markets:
– GBP leads, JPY lags on the day
– European equities mixed; S&P 500 futures down 0.2%

The PBOC comments on the yuan
As , both the onshore and offshore yuan are trading below 6.40 currently and this does not seem like very much pushback by Chinese officials. It is pretty much a green light for the yuan to keep with the trend all things considered.

The UK economy looks set for a buzzing summer
ONS data earlier in the day already signaled some excitement for the UK with the number of restaurant bookings being a third higher than pre-pandemic levels for the week through to 24 May i.e. 32% above the same week in 2019.