Spain HCOB Manufacturing PMI below forecasts (53.7) in May: Actual (51.2)

Switzerland Gross Domestic Product (QoQ) came in at 0.7%, above forecasts (0.5%) in 1Q

Switzerland Gross Domestic Product (YoY) fell from previous 0.7% to 0.5% in 1Q

Australia RBA Commodity Index SDR (YoY) up to 16.8% in May from previous 15.7%

Sweden Manufacturing PMI increased to 57.3 in May from previous 57.2

Switzerland Real Retail Sales (YoY) above forecasts (0.2%) in April: Actual (1.6%)

The EUR/GBP cross trades in negative territory near 0.8655 during the early European trading hours on Monday. The Euro (EUR) remains weak against the British Pound (GBP) following the upbeat German Retail Sales data.

Danske Research Team notes that EUR/USD ended last week around 1.1650 after a sharp drop in Oil prices, with US and Euro area yields both moving lower. They highlight upcoming United States (US) ISM Manufacturing Purchasing Managers' Index (PMI), labor data and the Euro area HICP as key drivers.

German Retail Sales, a key measure of consumer spending, declined again in April. The consumer spending measure dropped 0.3% month-on-month (MoM), according to official data released by Destatis, while it was expected to have declined 0.4%. In March, Retail Sales fell by 0.3% (revised from 2.0%)

United Kingdom Nationwide Housing Prices s.a (MoM) registered at -0.6%, below expectations (-0.2%) in May

United Kingdom Nationwide Housing Prices n.s.a (YoY): 1.7% (May) vs previous 3%

Russia S&P Global Manufacturing PMI rose from previous 48.1 to 48.8 in May

Asian equities advance on Monday as technology shares extended gains amid continued enthusiasm for the artificial intelligence-driven rally. However, traders may adopt caution due to highly fluid developments surrounding United States (US)-Iran peace negotiations.

US President Donald Trump said that Iran really wants to make a deal, and it will be a good one for the United States (US) and those that are with us. His comments came after US Central Command (Centcom) stated that it struck targets in Iran over the weekend.

Netherlands, The Nevi Manufacturing PMI climbed from previous 54.4 to 55.9 in May

India HSBC Manufacturing PMI registered at 55 above expectations (54.3) in May

AUD/JPY extends its gains for the third successive day, trading around 114.60 during the Asian hours on Monday. The currency cross holds its ground as a wave of mixed economic data from China, Australia, and Japan shaped market sentiment.

China's RatingDog Manufacturing Purchasing Managers' Index (PMI) declines to 51.8 in May from 52.2 in April the latest data published by RatingDog showed on Monday. 

China RatingDog Manufacturing PMI came in at 51.8, above forecasts (51.4) in May

West Texas Intermediate (WTI) oil price gains ground after three days of losses, trading around $88.80 per barrel during the Asian hours on Monday. WTI price rises over 2% as supply concerns intensify following Israel's orders for troops to move further into Lebanon.

Australia ANZ Job Advertisements up to 1.8% in May from previous -0.8%

Australia TD-MI Inflation Gauge (YoY) rose from previous 4.3% to 4.4% in May

Australia TD-MI Inflation Gauge (MoM) fell from previous 0.6% to -0.3% in May

Former Federal Reserve (Fed) Chair Jerome Powell said the US central bank would damage public trust that’s required to support a strong and stable economy if any president were free to dismiss Fed officials over policy disagreements, Bloomberg reported on Monday.

Japan Jibun Bank Manufacturing PMI in line with forecasts (54.5) in May

South Korea S&P Global Manufacturing PMI climbed from previous 53.6 to 54.8 in May

US President Donald Trump has sought to change several terms of a proposal to end the US-Israel war on Iran, the BBC reported on Sunday. The changes are related to the Strait of Hormuz and the removal of highly enriched uranium.

Japan Capital Spending came in at 0%, below expectations (4.1%) in 1Q

Australia S&P Global Manufacturing PMI came in at 50.7, above expectations (50.2) in May

China’s official Manufacturing Purchasing Managers' Index (PMI) eased to 50.0 in May, compared to 50.3 in the previous reading. The reading came in line with the market consensus of 50.0 in the reported month.