The US non-farm payrolls tomorrow is the key risk event this week
And we’re sitting in what seems to be a bit of a lull in the run up to the release on Friday.

But there is still seemingly some lack of conviction all around
The greenback is sitting slightly higher in European morning trade but it isn’t really pushing any fresh boundaries against the major currencies bloc.

UK labour market slowly getting back up on its feet
That will allow for the statistics to become more relevant once again in the months ahead, though it will still take time before conditions normalise further.

Latest data released by Markit/CIPS – 3 June 2021
The preliminary report can be found . Stronger revisions only add to the gloss on this report as UK services sector output growth is seen at its quickest in 24 years.

Remarks by RBA deputy governor, Guy Debelle
In case you missed it, are some points to note from the RBA meeting on Tuesday.

here

Latest data released by Eurostat – 1 June 2021
Core inflation meets estimates and is keeping just under 1%, so that might not raise too many eyebrows at the ECB just yet but watch for the trend in the months ahead.

Latest data released by Destatis – 31 May 2021
here
This likely owes to some base effects as well but the higher month-on-month readings also suggest that there are rising price pressures at play too.

Forex news from the European trading session – 31 May 2021
Headlines:
Markets:
– AUD leads, CHF lags on the day
– European equities muted
– Gold flat at $1,903.65

Remarks by former China SAFE official, Guan Tao
The comments are interesting as it could allude to the fact that perhaps the latest move by the PBOC isn’t quite a one-off and they would be happy to quell further yuan strength from hereon. But we’ll have to wait and see to be sure of that.

EU calls for looser restrictions on travel
The commission proposes that fully vaccinated person(s) holding vaccination certificates in-line with the EU digital certificate should be exempt from travel-related testing or 14-days quarantine after having received their second vaccine dose.