Economic calendar: ECB speakers dominate otherwise empty calendar

• European indices set for higher open
• GBP drops after mixed jobs data
• Second-tier data from Canada, API oil report
• Number of ECB members scheduled to speak today

European index futures point to a slightly higher opening of today's cash session for blue chips indices, following yesterday's post-elections sell-off. DAX and EuroStoxx futures trade around 0.2% higher at press time. Japanese yen is the worst performing G10 currency, while EUR outperforms other major peers. 

Economic calendar for today is very light. Traders were already offered a mixed jobs report from the UK, which triggered a drop on GBP. Canadian building permits data for April will be released in the early afternoon, while API report on US oil inventories will be released in the evening. Speeches from ECB members scheduled throughout the day may offer some EUR-volatility. Overall, markets seem to be getting into a 'wait-and-see' mode ahead of tomorrow's US CPI data release and FOMC rate decision.

1:30 pm BST - Canada, building permits for April. Expected: +4.8% MoM. Previous: -11.7% MoM

9:40 pm BST - API report on US oil inventories. 

Central bankers' speeches

• 8:00 am BST - ECB Simkus
• 8:10 am BST - ECB Villeroy
• 9:00 am BST - ECB Rehn
• 12:00 pm BST - ECB Holzmann & Villeroy
• 12:05 pm BST - ECB Lane
• 3:00 pm BST - ECB Makhlouf
• 5:45 pm BST - ECB Elderson

Noteworthy Wall Street earnings

• Oracle (ORCL.US) - after market close