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Economic calendar: EU leaders reach agreement

7:24 AM 21 July 2020

  • EU leaders reached agreement on recovery fund

  • Poland and Canada report retail sales data

  • Coca-Cola and Lockheed Martin among earnings reporters

Moods on the global markets are positive ahead of the European cash session open. European leaders reached an agreement on the shape of a massive €750 billion EU post-Covid recovery fund (€390 billion in grants, €360 billion in loans). However, traders should be aware that some "buy-the-rumour, sell-the-fact" trading may occur after European cash session launches. Apart from that, there is not much on the calendar that could move the market today.

9:00 am BST - Poland, retail sales for June. Expected: -4% YoY. Previous: -8.6% YoY

1:00 pm BST - Central Bank of Hungary rate decision. Expected: 0.60%. Previous: 0.75%

1:30 pm BST - Canada, retail sales for May.

  • Headline. Expected: +20% MoM. Previous: -26.4% MoM

  • Ex-autos. Expected: +15.5% MoM. Previous: -22% MoM

9:40 pm BST - API report on oil inventories. Expected: -1.95 mb. Previous: -8.3 mb

Noteworthy earnings releases

  • Coca-Cola (KO.US) - before market open

  • Lockheed Martin (LMT.US) - before market open

  • Philip Morris (PM.US) - before market open

  • United Airlines (UAL.US) - after market close

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