What are the main events for today?

EUROPEAN SESSION In the European session, we get the final Services PMIs for the major Eurozone economies and the UK. The final data is rarely market-moving, so I wouldn't expect much from the releases. The data won't change anything for the respective central banks as the ECB prepares to raise rates in June unless the Strait of Hormuz is officially reopened by then, and the BoE awaits more fresh data before moving. AMERICAN SESSION In the American session, the main highlight is the US ADP report which is expected to show 99K jobs added in April compared to 62K in March. The US jobs data has been really good lately, with even signs of reacceleration. The US initial claims recently fell to a 57-year low, while continuing claims fell to the lowest level since April 2024. Needless to say that US-Iran headlines will continue to dominate the price action but we are also reaching a point where the economic data will start influencing the Fed's stance, and the direction is not towards more rate cuts. CENTRAL BANK SPEAKERS 08:00 GMT/04:00 ET - ECB's Lane (neutral - voter) 08:40 GMT/04:40 ET - ECB's Cipollone (neutral - voter) 13:30 GMT/09:30 ET - Fed's Musalem (hawkish - non voter) 17:00 GMT/13:00 ET - Fed's Goolsbee (hawkish - non voter) 17:00 GMT/13:00 ET - Fed's Hammack (hawkish - voter) This article was written by Giuseppe Dellamotta at investinglive.com.