Forex market update

After one of the best months for equities in years, the primary question for the markets is whether it will be a case of the old stock market adage “sell in May and go away” remaining pertinent or whether risk appetite continues to grow. It’s early days (or hours) but on the face of it, May is off to a decent start, with US equity futures are up and, in FX land, strong intraday performances for the ZAR, NZD and AUD. The risk switch, it would seem, is still in the “on” position. We note that (aside from the CAD) [...]