Elsewhere, emerging market stocks and currencies gained. The Turkish lira was the most notable currency, regaining ground after the central bank tightened its monetary policy. However, market activity was subdued, given that today is a public holiday in both the United States and the United Kingdom.
The most important driver of US economic growth this week will be the Department of Labor's closing report on the number of jobs created during the month of May. The economy is expected to have recovered its pace of job creation, returning to 190 jobs, after only 164 nonfarm payrolls were added last April. This will be one of the last readings the Fed's monetary policy committee will receive before its next meeting in June, when a further 25 basis point increase in the benchmark rate is expected globally.
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