Flash: ISM main US data focus today - BTMU

FXstreet.com (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the main main economic data release in the US today will be the ISM manufacturing survey for May which is expected to signal that growth in the sector still remains moderate.

He writes in addition, “The latest IMM report revealed that long speculative US dollar positioning became even more elevated in the latest week leaving it vulnerable to a squeeze if US economic data releases disappoint ahead.”