Economic calendar: Hard data from US and EU

• European futures trade lower ahead of cash open

• UK GDP declines over 20% in Q2 2020

• US CPI and European production on the agenda

European stock index futures are trading lower ahead of cash session launch. Performance echoes downbeat Asian session. Wednesday looks calm in terms of data. The major reading for today - UK GDP report for Q2 - has been already released and it came more or less in-line with estimates (-20.4% QoQ vs -20.9% QoQ expected). Reaction on GBP market was minor.

Reading scheduled for today

10:00 am BST - Euro area, industrial production for June. Expected: +10% MoM. Previous: +12.4% MoM

1:30 pm BST - US, CPI inflation for July.

• Headline. Expected: 0.8% YoY. Previous: 0.6% YoY

• Core. Expected: 1.2% YoY. Previous: 1.2% YoY

3:30 pm BST - DOE report on oil inventories.

• Oil inventories. Expected: -3.1 mb

• Gasoline inventories. Expected: -1.5 mb

• Distillate inventories. Expected: 0 mb

Noteworthy US earnings

• Cisco Systems (CSCO.US) - after market close

• Lyft (LYFT.US) - after market close