Economic calendar: Fed speakers, Canadian retail sales

• European markets set to open slightly higher

• Canadian retail sales for April due at 1:30 pm BST

• Speeches from Fed Barkin and Fed Mester

Futures markets are pointing to a slightly higher opening of the European cash session today. Asian session has been upbeat and it is setting the tone for a higher opening on the Old Continent.Traders should keep in mind that US traders return from a long weekend today therefore liquidity conditions should improve in the afternoon.

Taking a look at the economic calendar for the day ahead, we do not see any major top-tier releases scheduled for today. Traders will be offered industrial production and jobs reports from Poland but it is unlikely to have any impact outside PLN market. CAD may move a bit during the Canadian retail sales release in the early afternoon but any volatility spike is likely to be short-lived and unlikely to be a trigger for a major move. Fed speakers - Barkin and Mester - may be the biggest source of volatility amid empty calendar.

9:00 am BST - Poland, industrial production for May. Expected: 15.2% YoY. Previous: 13.0% YoY

9:00 pm BST - Poland, jobs report for May.

• Employment change. Expected: 2.6% YoY. Previous: 2.8% YoY

• Wage growth. Expected: 14.6% YoY. Previous: 14.1% YoY

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

• Headline. Expected: 0.7% MoM. Previous: 0.0% MoM

• Ex-auto. Expected: 0.6% MoM. Previous: 2.4% MoM

3:00 pm BST - US, existing home sales for May. Expected: 5.4 million. Previous: 5.61 million

Central bankers' speeches

• 4:00 pm BST - Fed Barkin

• 5:00 pm BST - Fed Mester

• 8:30 pm BST - Fed Barkin