How far will the encirclement of China advance!? "June 1 highlights and event schedule"

Yesterday, SpaceX's crewed rocket launch was successful, the astronauts arrived at the space station, and it is exciting that private companies are going to space.

Is a future where space travel becomes commonplace approaching? Expectations are rising for the future.

Last week, by passing the Hong Kong National Security Law at the National People's Congress, China was the focus of criticism from the US and Europe, and the deterioration of US-China tensions became the centerpiece of the market.

US-China tensions are expected to remain the focus of the market this week as well.

◎ Today's Points of Attention

1) Relations with China

With the Hong Kong National Security Law enacted, China containment is drawing attention.

Last weekend, President Trump announced the withdrawal of preferential measures for Hong Kong, the UK announced accepting some Hong Kong residents, and Taiwan also announced support for accepting from Hong Kong, as sanctions and responses toward Hong Kong were announced one after another.

Attention is on China's response, reactions from countries around the world, and how the market will respond to them.

2) Manufacturing PMI

Manufacturing PMIs were released in China, Europe, the UK, and the US, with particular focus on the ISM Manufacturing Index in the United States.

Caixin Manufacturing PMI in China is expected to be 49.6, just below the dividing line of good and bad at 50, so attention is on whether it can exceed 50.

The manufacturing PMIs in Europe and the UK are revisions to results released at the end of last month, so they are unlikely to deviate greatly from expectations and the reaction may be limited.

There could be a reaction if the results significantly diverge, though...

And the ISM Manufacturing PMI is the timing data for whether the economy will recover from lockdowns, with a focus on how far the US economy will recover.

Attention is on whether it will exceed the forecast 43.0 or fall short, and also whether it will not fall below April's 41.5.

◎ Today's Event Schedule

June 1st (Monday)

10:45　CNY　Caixin Manufacturing PMI

16:45　EUR　Italy Manufacturing PMI (revised)

16:50　EUR　France Manufacturing PMI (revised)

16:55　EUR　Germany Manufacturing PMI (revised)

17:00　EUR　Eurozone Manufacturing PMI (revised)

17:30　GBP　UK Manufacturing PMI (revised)

20:00　TRY　Turkey Monetary Policy Meeting Minutes

23:00　USDISM Manufacturing Index

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