Economic calendar: Inflation data from euro area and Canada

• European indices opened slightly lower
• Inflation data from Eurozone and Canada
• US housing market data for August

European stock market indices launched today's trading slightly lower, following a downbeat trading during the Asia-Pacific session earlier today. Markets seem to be in wait-and-see mode ahead of a marathon of top-tier events in the second half of the week, including FOMC, BoE, flash PMIs for September.

Economic calendar for today includes inflation releases from the euro area and Canada. However, data from Europe will be a revision therefore should not have much impact on EUR. USDCAD may see some more volatility around 1:30 pm BST as Canadian inflation and US housing market data will be released simultaneously. Oil continues to trade higher and API report on oil inventories will be watched closely by crude traders.

10:00 am BST - Euro area, CPI inflation August (final).

• Headline: 5.3% YoY in first release (5.3% YoY previously)
• Core: 5.3% YoY in first release (5.5% YoY previously)

1:30 pm BST - US, housing market data for August

• Building permits. Expected: 1440k. Previous: 1443k
• Housing starts. Expected: 1440k. Previous: 1452k

1:30 pm BST - Canada, CPI inflation for August. Expected: 3.8% YoY. Previous: 3.3% YoY

9:40 pm BST - API report on US oil inventories. Expected: -1.1 mb. Previous: +1.17 mb

Central bankers' speeches

• 9:15 am BST - BoE Saporta
• 1:30 pm BST - ECB Elderson
• 7:00 pm BST - BoC Kozicki