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European markets seen opening lower
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OPEC+ talks fell apart
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German ZEW and US services ISM
Futures markets point to a lower opening of today's cash session. Oil is trading at fresh post-pandemic highs after OPEC+ talks fell apart and no date for new ones was set. Elsewhere, NZD rallies against G10 peers after rate hike odds spiked. US traders come back from a long weekend today so market conditions in the afternoon should return to normal.
There are some noteworthy releases scheduled for today. Industrial production from Spain, retail sales from Eurozone and German ZEW will be released in the morning. While neither of these prints triggered major market moves in recent months they give a hint on the condition of European economy. Services ISM at 3:00 pm BST is key reading of the US session and is expected to show slight deterioration.
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Open account Try demo Download mobile app Download mobile app8:00 am BST - Spain, industrial production for May. Expected: 22.1% YoY. Previous: 48.2% YoY
10:00 am BST - Euro area, retail sales for May. Expected: 4.2% MoM. Previous: -3.1% MoM
10:00 am BST - Germany, ZEW index for July. Expected: 75.5. Previous: 79.8
2:45 pm BST - US, services PMI for June (final). First release: 64.8
3:00 pm BST - US, services ISM index for June. Expected: 63.5. Previous: 64.0
Central bankers' speeches
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9:10 am BST - ECB de Guindos
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12:00 pm BST - ECB Enria
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