Economic calendar: Canadian jobs data, US PPI inflation

• European futures trade slightly higher after Biden-Xi phone call

• Canadian jobs data, US PPI inflation

• Speeches from ECB and Fed members

Futures market point to a slightly higher opening of today's European cash session. Risk moods improved overnight after news of the Biden-Xi phone call hit the market. While economic releases scheduled for today rarely have a major impact on stock markets, speeches from central bankers may trigger some short-term volatility on equities. ECB President Lagarde will hold a press conference at 10:30 am BST, after a Eurogroup meeting. Canadian dollar may be more volatile in the early afternoon as labour market data from the country will be released.

8:00 am BST - Spain, industrial production for July. Expected: 6% YoY. Previous: 11.1% YoY

9:00 am BST - Italy, industrial production for July. Expected: 0.1% MoM. Previous: 1% MoM

1:30 pm BST - US, PPI inflation for August.

• Headline. Expected: 8.2% YoY. Previous: 7.8% YoY

• Core. Expected: 6.6% YoY. Previous: 6.2% YoY

1:30 pm BST - Canada, labour market report for August.

• Employment. Expected: +75k. Previous: +94k

• Unemployment rate. Expected: 7.3%. Previous: 7.5%

3:00 pm BST - US, wholesales inventories for July. Expected: 0.6% MoM. Previous: 1.2% MoM

Central bankers' speeches

• 9:00 am BST - ECB Villeroy

• 10:30 am BST - ECB President Lagarde

• 11:10 am BST - ECB Elderson

• 2:00 pm BST - Fed Mester