Forex: Month End Review May 2011, USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD

Forex: Month End Review - May 2011, USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD

May started off with a bang as CME raised margin requirements on Silver multiple times.

Silver was down over 25% before recovering to close the month down 20%.

This seemed to be the catalyst to spur on sell in May and go away phenomenon. Market traders have long believed that the summer months are a great time to stay away from stocks and take profits off the table.

Even though this seemed the case early on, S&P 500 was only down 1.3%, 17pts. That's not considered to be a sell off by any means. The S&P low for the month was 1,311 and closed at 1,345.

Greek woes came back to life after almost a year on hiatus. Will they restructure wont they restructure?

Here are some key observations from the month of May:

CME raises margin requirements for both Silver and Oil
Greek restructuring woes?
FOMC Minutes - much ado about nothing? FOMC minutes reveal constructed plan to exit current loose monetary policy
Goldman Sachs: The U.S. DOLLAR TO WEAKEN Versus EURO
As Japan heads into their 3rd Recession, YEN looks poised to lose more ground
NORWAY FREEZES $42M IN PAYMENTS TO GREECE
EUR/USD -Implications from Fitch cutting Greek rating, Norway freezing $42M in payments to Greece, German Bundesbank comments
EUR/USD - May 2010 déjà vu: Iceland volcano eruption, Greece sovereign debt crisis...
UK credit rating downgraded by Chinese rating agency
Goldman Sachs: Back to Bullish call on Commodities
Durable Goods Orders: Plunges more than expected
Goldman Sachs: Cuts Q2 GDP to 3.0%
United Nations: Says US Dollar could Collapse
CHINA: Wealth Fund to invest NZ$6 billion on New Zealand assets and government bonds
Forex: Bill Gross, US Dollar at Risk
Fitch: Cuts Outlook on Japan Sovereign Debt to Negative
Moody's Warns of Japan Downgrade
Bank of Canada keeps Interest Rate unchanged, for now at least
Citi: A Debt Ceiling Breach would have Disastrous US Dollar Implications
Australia: Treasurer Wayne Swan says First-Quarter GDP Suffered Dramatically from Floods
Oil down 10%, Silver down 20%, and Gold only down -1.76%