00:00 New Zealand Bank holiday

00:30 Australia MI Inflation Gauge, m/m May -0.5% +0.2%

00:30 Australia MI Inflation Gauge, y/y May +2.7% +2.2%

01:00 China Non-Manufacturing PMI May 54.5 54.3

01:30 Australia Retail sales (MoM) April -0.4% +0.3% +0.2%

01:30 Australia Retail Sales Y/Y April +3.2%

01:30 Australia ANZ Job Advertisements (MoM) May -1.3% -2.4%

01:30 Australia Company Operating Profits Quarter I -1.0% +1.6% +3.0%

01:45 China HSBC Manufacturing PMI (Finally) May 49.6 49.6 49.2

The euro remained lower after last month's declines before data forecast to show manufacturing in the currency bloc contracted for a 22nd month, adding to pressure on the European Central Bank to cut interest rates. The final reading on a Purchasing Managers' Index of manufacturing in the 17-nation euro area probably held at 47.8 in May, according to the median estimate of economists in a separate survey before London-based Markit Economics releases the data today.

The ECB meets on policy on June 6. The ECB will probably hold its key interest rate at a record low 0.5 percent this week, according to 54 of 56 economists surveyed by Bloomberg News. President Mario Draghi signaled last month he's prepared to cut rates if economic data worsen.

The Australian dollar rallied from the weakest in more than 1 1/2 years after an official manufacturing index in China showed a pickup in growth, boosting trade prospects. The 50.8 PMI reading released on June 1 by the National Bureau of Statistics and China Federation of Logistics and Purchasing in Beijing was higher than all estimates in a Bloomberg survey of analysts.

China's non-manufacturing PMI was at 54.3 in May from 54.5 the previous month, official data showed today. President Xi Jinping said expansion is on a "more stable footing," Xinhua News Agency reported May 31. China is Australia's biggest trading partner.

EUR / USD: during the Asian session the pair rose to $ 1.3015

GBP / USD: during the Asian session the pair rose to $ 1.5220

USD / JPY: during the Asian session the pair traded in the range of Y100.35-75

Monday sees the latest snap look at the eurozone economies, with the release of the May manufacturing sector PMI data. However, the week's main events are towards the later end of the week, with RBA, ECB and BOE policy meetings, followed by the release of the latest US employment report on Friday. The Bank of England's meet is the last under the stewardship of Governor Sir Mervyn King, who steps down at the end of June. Monday's data gets underway at 0700GMT, with the release of the French May car registrations data and Spanish May unemployment numbers. The release of euro area manufacturing PMI numbers for May start at 0713GMT, as Spanish numbers cross the wires, followed by Italy at 0743GMT, France at 0748GMT and Germany at 0753GMT. Eurozone consolidated PMI manufacturing numbers for May will be released at 0758GMT.