European indices seen opening higher
ADP report expected to show 950k employment gain in August
DOE report expected to show big draw after yesterday's API
European stock markets are seen opening higher in spite of a mixed Asian session. ADP employment change report for August is a key release of the day as it will provide a hint ahead of Friday's NFP. Employment increase is expected but the pace of labour market recovery seems to be slowing down. Apart from that, DOE report may provide some volatility on oil but keep in mind that the market is positioning for a bigger draw than expected after yesterday's API report (-6.36 mb).
10:00 am BST - Euro area, PPI inflation for July. Expected: -3.4% YoY. Previous: -3.7% YoY
1:15 pm BST - US, ADP report for August. Expected: 950k. Previous: 167k
3:00 pm BST - US, factory orders for July. Expected: 6% MoM. Previous: 6.2% MoM
3:30 pm BST - DOE report on oil inventories.
Oil inventories. Expected: -1.95 mb
Gasoline inventories. Expected: -3.6 mb
Distillate inventories. Expected: -1.45 mb
Asian session ahead
3:45 pm BST - China, Services PMI for August. Expected: 54