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RBA Holds Rates but Warns of Rising Inflation Pressures 
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BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Lots of economic data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- China: Caixin manufacturing PMI declines to 49.6 in May from 50.3 in the past month.
- Australia: Private capital expenditure grew by 0.3 percent in the first quarter. Retail sales grew by 1 percent in April.
- Japan: Nikkei manufacturing PMI improves to 53.1 in May.
Upcoming:
- Japan: Vehicle sales report will be published at 5:00 GMT.
- Switzerland: First quarter GDP will be published at 5:45 GMT. Retail sales report will be published at 7:15 GMT, followed by SVME PMI report at 7:30 GMT.
- United Kingdom: Nationwide house price report will be published at 6:00 GMT.
- Spain: Markit Manufacturing PMI will be reported at 7:15 GMT.
- Italy: Markit Manufacturing PMI report will be published at 7:45 GMT, followed by GDP report at 8:00 GMT.
- France: Manufacturing PMI report will be published at 7:50 GMT.
- Germany: Markit Manufacturing PMI report will be published at 7:55 GMT.
- Greece: Manufacturing PMI report will be published at 8:00 GMT.
- Eurozone: Manufacturing PMI report will be published at 8:00 GMT.
- United Kingdom Manufacturing PMI report will be published at 8:30 GMT.
- United States: Challenger jobs report will be published at 11:30 GMT, followed by ADP employment report at 12:15 GMT and weekly jobless claims report at 12:30 GMT. Manufacturing PMI report will be published at 13:45 GMT, followed by ISM manufacturing PMI report at 14:00 GMT. EIA will release the weekly natural gas inventory report at 14:30 GMT and crude oil inventory report at 15:00 GMT.
- Auction: France will auction 10-year bond and UK will auction 10-year bond today.
