Guide to today’s important data and events

Lot of economic dockets to be released today, with high risk associated. Focus is on manufacturing PMI across globe and US PCE.

Data released so far -

• Australia - Building permits dropped by -4.4% m/m in April, still up 16.3% from a year ago.

• China - China manufacturing PMI rose to 50.2 from 50.1 prior and non-manufacturing PMI dropped to 53.2 from 53.4 prior. HSBC manufacturing PMI rose slightly to 49.2 from 49.1, but still hovering in contractionary zone.

• Japan - Japan manufacturing PMI remained same at 50.9 in May.

Upcoming -

• Spain - Manufacturing PMI is scheduled for release at 7:15 GMT. Expected 54.5

• Switzerland - Manufacturing PMI to be released at 7:30 GMT. Prior 48.4, expected 47.9.

• Italy - Manufacturing PMI at 7:45 GMT. Expected 53.6.

• France - Manufacturing PMI scheduled at 7:50 GMT. Still expected in contractionary zone

• Germany - Manufacturing PMI is scheduled at 7:55 GMT, followed by preliminary reading on consumer price index at 12:00 GMT.

• Euro zone - Euro zone manufacturing PMI will be released at 8:00 GMT.

• UK - UK manufacturing PMI to be released at 8:30 GMT.

• US - High event risk data are scheduled from US. FED's favorite personal consumption expenditure (PCE) details and inflation will be released at 12:30 GMT, followed by Markit manufacturing PMI at 13:45 GMT and ISM manufacturing PMI at 14:00 GMT.

• Canada - Canada will release manufacturing PMI at 13:30 GMT.

• Auctions - US will be auctioning 3 and 6 months bills at 15:30 GMT.