Unemployment seen steady at 7.5%.

U.S. non-farm payroll data for May is due out this morning, with economists expecting that the number of jobs increased by 165,000 last month - as in April - but that the unemployment rate held steady at 7.5%. Concern that the figures will be worse than expected helped depress sentiment in global equity markets, although a surprise on the upside may well spark renewed fears about the Fed's QE program. I.e.: there's no winning either way.