Economic calendar: Focus on PMIs

• PMIs from US, UK and EU for July

• American Express and Verizon to report earnings

Risk-off moods can be spotted on the global financial markets with safe haven currencies gaining and stocks pulling back. China-US tensions are the primary reason behind increased risk aversion. However, markets are likely to move on data releases today as well as PMIs from Europe and the United States will be released. Apart from that, Verizon and American Express will report Q2 earnings

Data releases scheduled for today

8:15 am BST - France, PMI indices for July (flash).

• Manufacturing. Expected: 53.2 pts. Previous: 52.3 pts

• Services. Expected: 52.3 pts. Previous: 50.7 pts

8:30 am BST - Germany, PMI indices for July (flash).

• Manufacturing. Expected: 48 pts. Previous: 45.2 pts

• Services. Expected: 50.5 pts. Previous: 47.3 pts

9:00 am BST - Euro area, PMI indices for July (flash).

• Manufacturing. Expected: 50 pts. Previous: 47.4 pts

• Services. Expected: 51 pts. Previous: 48.3 pts

9:30 am BST - UK, PMI indices for July (flash).

• Manufacturing. Expected: 52 pts. Previous: 50.1 pts

• Services. Expected: 51.5 pts. Previous: 47.1 pts 

2:45 pm BST - US, PMI indices for July (flash).

• Manufacturing. Expected: 51.5 pts

• Services. Expected: 51 pts. Previous: 47.9 pts

6:00 pm BST - US, oil rig count. Previous: 180

Noteworthy US earnings releases

• American Express (AXP.US) - before market open

• Schlumberger (SLB.US) - before market open

• Verizon Communications (VZ.US) - before market open