Economic calendar: German Ifo index, Coca-Cola earnings

• European markets set for lower opening

• German IFO index for April

• GDP reports from US and Germany later into the week

Futures markets point to a lower opening of the European session today. Deteriorating pandemic situation in China is putting pressure on risk assets. Asian indices as well as oil and industrial metals took a hit today and downbeat mood can be seen ahead of the European open as well. Victory of Emmanuel Macron in French presidential elections provided a lift for euro but did little to support indices from the Old Continent so far. Economic calendar for today is light with German IFO index for April being only noteworthy release. However, things get more interesting later into the week with Q1 GDP report from the United States and Germany. Among today's US earnings reporters one can find Coca-Cola and Activision Blizzard.

9:00 am BST - Germany, IFO index for April. Expected: 88.2. Previous: 90.8

Central bankers' speeches

• 4:00 pm BST - BoC Chairman Macklem

Top Wall Street earnings releases

• Activision Blizzard (ATVI.US) - before market open

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

• Whirlpool Corporation (WHR.US) - after market close

Key events in the later part of the week

• Flash German CPI for April (Thursday)

• Bank of Japan rate decision (Thursday)

• US GDP report for Q1 2022 (Thursday)

• German GDP report for Q1 2022 (Friday)

Top US earnings this week include 5 mega tech companies. Source: Bloomberg, XTB