Economic calendar: Flash CPI data from Europe, German Q3 GDP

• European indices set for higher opening
• CPI inflation data from Spain and Germany
• Rate decisions from FOMC, BoJ and BoE later this week!

European index futures point to a higher opening of the cash session on the Old Continent today. Israeli military intensified ground operations in the Gaza Strip over the weekend. However, as fighting is limited to Gaza Strip and is not spreading across the region, some relief can be spotted on the markets. Brent is pulling back 0.5% and safe haven currencies are lagging other G10 peers.

Economic calendar for today includes some top-tier macro reports from Europe. Traders will be offered flash CPI data for October from Spain and Germany. On top of that, German GDP report for Q3 2023 will be released at 9:00 am GMT today. Dallas Fed index is the sole reading scheduled for the US session but it rarely moves the markets. Among companies who report earnings today one can find McDonald's, Arista Networks and Pinterest.

Things get more interesting later into the week with FOMC, BoJ and BoE rate decisions as well as jobs data from US and Canada.

8:00 am GMT - Spain, CPI inflation for October. Expected: 3.9% YoY. Previous: 3.5% YoY

9:00 am GMT - Germany, GDP report for Q3 2023. Expected: -0.3% QoQ. Previous: 0.0% QoQ

1:00 pm GMT - Germany, CPI inflation for October. Expected: 4.0% YoY. Previous: 4.5% YoY

2:30 pm GMT - US, Dallas Fed index for October. Expected: -16.0. Previous: -18.1

Central bankers' speeches

• 8:00 am GMT - ECB Simkus
• 1:00 am GMT - ECB De Guindos

Top Wall Street earnings

• McDonald's (MCD.US) - before market open
• Western Digital (WDC.US) - before market open
• Arista Networks (ANET.US) - after market close
• Pinterest (PINS.US) - after market close