We examined the effects of exercise intensity and menstrual cycle phase on glucose flux rates during rest and exercise in rested and fed (3-h postabsorptive) women. Eight moderately active, eumenorrheic women were studied under conditions of rest (90 min) and exercise (60 min, leg ergometer cycling at 45 and 65% peak oxygen consumption) during follicular and luteal phases. In both menstrual phases, an effect of exercise intensity was evident with glucose rates of appearance and disappearance and metabolic clearance rates: rest < 45% intensity < 65% intensity (P < 0.05). In addition, we observed no significant effect of menstrual phase on glucose rates of appearance and disappearance and metabolic clearance rate during rest or exercise at either intensity. These results are interpreted to mean that in women fed several hours before study 1) glucose flux is directly related to exercise intensity, 2) menstrual cycle phase does not alter glucose flux during rest and exercise, and 3) the subtle effects of endogenous ovarian hormones on glucose kinetics are subordinate to the much larger effects of exercise and recent carbohydrate nutrition.