Financial markets in the U.K. are also closed for a public holiday.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Gold drops below $1,200
1. Gold drops below $1,200
Gold futures fell sharply in European trade on Monday, dropping below the key $1,200-level for the first time since February as investors continued to factor in an increased chance of a near-term U.S. interest rate rise.
In remarks made during an appearance at Harvard University Friday afternoon, Federal Reserve Chair Janet Yellen said a rate hike in the coming months "would be appropriate," if the economy and labor market continue to improve.
2. Dollar at 2-months high
2. Dollar at 2-months high
The dollar held steady at two-month highs against the other major currencies on Monday, as comments by Federal Reserve Chair Janet Yellen signaling the possibility for upcoming rate hikes boosted demand for the greenback.
Trade volumes looked likely to remain light on Monday with financial markets in the U.K. shut for a public holiday and U.S. markets closed for Memorial Day.
3. U.S. NFP this Friday
3. U.S. NFP this Friday
The U.S. Labor Department will release its May nonfarm payrolls report at 12:30GMT, or 8:30AM ET, on Friday.
The consensus forecast is that the data will show jobs growth of 161,000 last month, following an increase of 160,000 in April, the unemployment rate is forecast to dip to 4.9%, while average hourly earnings are expected to rise 0.2% after gaining 0.3% a month earlier.
An upbeat employment report would help support the case for a summer rate hike by the Federal Reserve.
4. ECB policy meeting later this week
4. ECB policy meeting later this week
The European Central Bank's interest rate decision is due at 11:45GMT, or 7:45AM ET, on Thursday, with most of the focus likely to be on President Mario Draghi's press conference 45 minutes after the announcement as well as updated inflation and growth forecasts.
The consensus is that the ECB will leave interest rates on hold and reaffirm its focus on implementing the stimulus package announced in March, which included purchases of corporate bonds and a new round of so-called TLTRO loans for banks, both due to kick off in June.
