Bitcoin prices sank more than 5% as US stocks closed lower on the first trading day of the month. That dour tone may bleed into the APAC session as traders eye Australian trade data.

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The S&P 500 falls for a second straight day as strong US manufacturing data increases the likelihood that the Fed will have to continue to front-load hikes to cool demand and curb inflation.

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Data prints coming out of the US may keep EUR/USD under pressure as the Non-Farm Payrolls (NFP) report is anticipated to show a further improvement in the labor market.

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Copper prices have continued their rebound from their May lows.

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The US Dollar just printed its first bearish monthly bar of 2022 trade. Non-farm Payrolls is released on Friday and the Fed is waiting in the wings for their rate decision in two weeks.

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