PBOC sets USD/ CNY reference rate for today at 6.8167 (vs. estimate at 6.7643Z)

China's RatingDog/S&P Global Manufacturing PMI eased to 51.8 in May from 52.2 in April, staying above 50 for a sixth straight month, as input price inflation eased for the first time in six months.

Reports of Iran drafting its own deal amendments as Tehran pushes back on Trump's terms Iran isn't accepting Trump's edits, it's writing its own, and it's fine if the whole thing falls apart (so they say).

PBOC sets USD/ CNY reference rate for today at 6.8167 (vs. estimate at 6.7643Z) PBOC CNY reference rate setting for the trading session ahead. Strongest for CNY since 14 February 2023.

Japan's S&P Global Manufacturing PMI eased to 54.5 in May from April's 51-month high of 55.1, with input costs and selling prices rising at rates rarely seen in over 24 years of data.

Former Fed chair Powell, now a governor, warned at a Boston ceremony that any administration able to remove Fed officials over policy differences sets a precedent every future administration will follow.

Japan Capital Spending Q1: 0.0% y/y (expected 4.0%, prior 6.5%). Flat capex in Q1 the headline data point, Disappointing.

UK businesses remain deeply downbeat on outlook despite slight mood lift in May British businesses are marginally less miserable than last month, which is about as good as it gets right now.