Higher gasoline prices are expected to drive up U.S. consumer inflation in May, according to economic forecasts, adding pressure to ongoing concerns about rising costs for American households.

The European Central Bank is preparing for its upcoming interest rate decision, with energy prices emerging as a key factor in monetary policy considerations. The central bank's deliberations come as European economies continue to navigate inflationary pressures and energy market volatility.

In regulatory news, the ECB has taken steps to address concerns about fintech company Revolut's European operations, moving to implement stricter oversight measures for the digital banking platform's activities in the region.

Meanwhile, Peru's presidential election has seen renewed volatility as additional ballots from overseas and rural areas continue to be counted, causing the race to tighten once again. The ongoing ballot counting has coincided with market uncertainty as investors monitor the political developments.

In Sweden, public opinion polling indicates declining support for joining the eurozone, reflecting shifting attitudes toward European monetary integration among Swedish citizens. The poll results suggest growing skepticism about adopting the common currency despite Sweden's EU membership.