-
European stock market set for higher opening
-
ECB rate decision at the top of agenda
-
Italian PM expected to resign
Futures markets point to a slightly higher opening of the European cash trading session today. DAX futures trade around 20-30 points above yesterday's cash closing levels. In spite of USD weakness, precious metals and energy commodities pull back slightly. EUR is the best performing major currency at press time. Cryptocurrencies pull back after Tesla revealed it sold 75% of its Bitcoin holdings.
Today is a big day for EUR. As we have mentioned earlier, common currency is the best performing G10 currency today. Media reports saying that gas flows via Nord Stream 1 pipeline were resumed provided a boost for EUR. There are 2 more potential volatility events for euro today. Firstly, Mario Draghi is expected to definitely resign from the Prime Minister post amid failure to gather enough support for his government. Draghi is expected to make an announcement at 8:00 am BST. However, a key event of the day is the ECB rate decision at 1:15 pm BST (press conference at 1:45 pm BST). Economists are divided on whether ECB will deliver a 25 or 50 basis point rate hike so there is a scope for surprise. Moreover, ECB is likely to provide some details on how it attempts to prevent fragmentation of eurozone bond markets.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app8:00 am BST - Italian Prime Minister expected to announce resignation
9:00 am BST - Poland, retail sales for June. Expected: 21.5% YoY. Previous: 23.6% YoY
12:00 pm BST - CBRT rate decision
1:15 pm BST - ECB rate decision
1:30 pm BST - US, Philly Fed index for July. Expected: -0.1. Previous: -3.3
1:30 pm BST - US, jobless claims. Expected: 240k. Previous: 244k
Wall Street earnings releases
-
AT&T (T.US) - before market open
-
Alaska Air Group (ALK.US) - before market open
-
American Airlines (AAL.US) - before market open
-
Dow (DOW.US) - before market open
-
Philip Morris (PM.US) - before market open
-
Snap (SNAP.US) - after market close
-
Travelers (TRV.US) - before market open
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
