Economic calendar: G7 meeting and University of Michigan index

European markets seen opening flat
Meeting of G7 leaders
University of Michigan data for June

According to the situation on futures markets, European indices are set for a flat opening of today's cash session. Much higher-than-expected inflation in the United States did not dent moods on Wall Street with major indices looking towards records. Economic calendar is much lighter today. UK GDP data for April released at 7:00 pm BST was top reading. It showed a 2.3% MoM growth, slightly below 2.4% MoM expected. In the later part of the day, investors will be offered the University of Michigan index for June. Last but not least, meeting of G7 leaders begins today so traders should be aware of potential headline risk.

8:00 am BST - Spain, CPI inflation for May. Expected: 2.7% YoY. Previous: 2.2% YoY

3:00 pm BST - US, University of Michigan index for June. Expected: 83.5. Previous: 82.9

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Economic reports

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