Economic calendar: ECB rate decision, Netflix earnings

• European indices set for flat or slightly higher opening
• ECB to announce rate decision
• Earnings report from Netflix

European index futures point to a flat or slightly higher opening of today's cash session for majority of blue chips indices from the Old Continent. This comes after a downbeat trading on Wall Street yesterday and a mostly downbeat session in Asia-Pacific earlier today. AUD, CAD and USD are the best performing major currencies, while GBP and NZD lag the most. Oil and precious metals trade higher.

ECB rate decision is a key point in today's economic calendar. European Central Bank will make policy announcement at 1:15 pm BST, followed by press conference at 1:45 pm BST. ECB is not expected to cut rates today, after delivering the first rate cut at the previous meeting. However, Bank may provide some hints on the timing of the next move. Apart from ECB rate dcision, traders will also be offered second-tier data from the United States as well as earnings reports from Netflix (NFLX.US) and TSMC (TSMC.US)

10:00 am BST - Poland, data pack for June

• Industrial production. Expected: -1.3% YoY. Previous: -1.7% YoY
• Employment change. Expected: -0.4% YoY. Previous: -0.5% YoY
• Wage growth. Expected: 11.5% YoY. Previous: 11.4% YoY

1:15 pm BST - ECB rate decision

1:30 pm BST - US, Philadelphia Fed index for July. Expected: 2.9. Previous: 1.3

1:30 pm BST - US, initial jobless claims. Expected: 230k. Previous: 222k

3:30 pm BST - EIA natural gas storage report. Expected: +27 bcf. Previous: +65 bcf

Central bankers' speeches

• 1:45 pm BST - ECB President Lagarde (post-meeting press conference)
• 6:45 pm BST - Fed Logan
• 11:05 pm BST - Fed Daly

Top Wall Street earnings

• Netflix (NFLX.US) - after market close
• TSMC (TSM.US) - before market open
• Domino's Pizza (DPZ.US) - before market open
• Abbott Laboratories (ABT.US) - before market open
• Nokia (NOK.US) - before market open
• Intuitive Surgical (ISRG.US) - after market close