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European futures trade lower ahead of cash open
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UK GDP declines over 20% in Q2 2020
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US CPI and European production on the agenda
European stock index futures are trading lower ahead of cash session launch. Performance echoes downbeat Asian session. Wednesday looks calm in terms of data. The major reading for today - UK GDP report for Q2 - has been already released and it came more or less in-line with estimates (-20.4% QoQ vs -20.9% QoQ expected). Reaction on GBP market was minor.
Reading scheduled for today
10:00 am BST - Euro area, industrial production for June. Expected: +10% MoM. Previous: +12.4% MoM
1:30 pm BST - US, CPI inflation for July.
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Headline. Expected: 0.8% YoY. Previous: 0.6% YoY
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Core. Expected: 1.2% YoY. Previous: 1.2% YoY
3:30 pm BST - DOE report on oil inventories.
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Oil inventories. Expected: -3.1 mb
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Gasoline inventories. Expected: -1.5 mb
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Distillate inventories. Expected: 0 mb
Noteworthy US earnings
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Cisco Systems (CSCO.US) - after market close
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Lyft (LYFT.US) - after market close
Daily Summary: CPI down, Markets Up
US OPEN: Macroeconomic data sends markets to new heights
BREAKING: Final US UoM consumer sentiment drops🗽Inflation expectations higher
BREAKING: US PMI above expectations! 📈🔥EURUSD declines!
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