Economic calendar: CPI data from Germany, US holiday

• European stock markets set for higher opening

• Flash CPI for May from Spain and Germany

• US traders observe Memorial Day holiday

European stock market indices are trading higher ahead of Monday's cash session opening. Risk-on moods can be spotted all across the financial markets as China prepares to ease restrictions in major cities and unveils a plan to kick-start Shanghai economy after lockdown. The day ahead is expected to be light in terms of liquidity as US traders will be off to observe a Memorial Day. There will be no cash session on Wall Street and there will be no trading on CORN, SOYBEAN, WHEAT, SUGAR, COCOA, COFFEE and COTTON. US futures will trade but trading will be shortened to 6:00 pm BST.

Apart from light liquidity conditions, today's trading may also be calm thanks to a light calendar. CPI readings from Spain and Germany are the only noteworthy macroeconomic releases scheduled for today. Some short-term volatility is expected on EUR market around release times but it is those release are unlikely to be triggers for a new major impulse on the markets.

8:00 am BST - Spain, flash CPI inflation for May. Expected: 8.2% YoY. Previous: 8.3% YoY

1:00 pm BST - Germany, flash CPI inflation for May. Expected: 7.6% YoY. Previous: 7.4% YoY

Wall Street earnings releases

• Weibo Corporation (WB.US) - before market open