Economic calendar: German ZEW index, Walmart earnings

• European markets set to open lower
• German ZEW, Canada CPI data in the calendar
• Quarterly results from Walmart and Home Depot

Futures markets point to a lower opening of the European stock market session amid concerns surrounding China and the global economic outlook. Traders should expect markets to remain subdued until publication of tomorrow’s FOMC minutes and retail sales data.  

Economic calendar for today is not empty but is quite light. Traders will be offered ZEW index for August during the European morning trade followed by US housing and industrial production data and Canadian CPI data in the afternoon. Oil may experience some short-term volatility in the evening when the API report is released.  New Zealand dollar traders should focus on the dairy auction, which will be held around noon. Last but not least, earnings reports from Walmart and Home Depot will be released today ahead of the Wall Street session.

10:00 am BST - Germany, ZEW index for August. Expected: -53.8. Previous: -53.8

1:00 pm BST - Poland, core CPI inflation for July. Expected: 9.2% YoY. Previous: 9.1% YoY

1:30 pm BST - Canada, CPI inflation for July. Expected: 7.6%, Previous: 8.1% YoY 

1:30 pm BST - US housing market data for July.

• Building permits. Expected: 1.63 million. Previous: 1.7 million
• Housing starts. Expected: 1.53 million. Previous: 1.56 million

2:15 pm BST - US, industrial production for July. Expected: 0.3% MoM. Previous: -0.2% MoM

9:30 pm BST - API report on oil inventories. Previous: +2.156 mb

Wall Street earnings releases

•  Walmart (WMT.US)- before market open
• Home Depot (HD.US)- before market open