Economic calendar: Inflation data from Europe, central bankers' speeches

• European markets expected to open higher

• Flash inflation readings from Spain and Germany

• Speeches from ECB, BoC, BoJ and Fed heads

Futures markets point to a higher opening of today's cash trading session in Europe. Major indices from the Western Europe are set to open with big 1-2% bullish price gaps. Moods improved as some health officials said that Omicron coronavirus variant seems to cause only mild symptoms of infection. Oil is also recovering losses and so are cryptocurrencies.

Investors will be offered flash inflation readings from Germany and Spain today. An acceleration is expected in both cases. Apart from that, a number of central bankers will deliver speeches today, including heads of ECB, BoJ, BoC and Fed. Last but not least, Omicron is likely to continue to be a dominating factor on the markets at the beginning of a week so traders should beware of elevated volatility.

8:00 am GMT - Spain, HICP inflation for November. Expected: 5.6% YoY. Previous: 5.4% YoY

1:00 pm GMT - Germany, CPI inflation for November. Expected: 5.0% YoY. Previous: 4.5% YoY

3:00 pm GMT - US, existing home sales for October. Expected: 0.9% MoM. Previous: -2.3% MoM

3:30 pm GMT - US, Dallas Fed index for October. Expected: 19. Previous: 14.6

Central bankers' speeches

• 8:30 am GMT - ECB de Guindos

• 8:30 am GMT - BoJ Governor Kuroda

• 2:00 pm GMT - ECB Hakkarainen

• 5:15 pm GMT - ECB President Lagarde

• 7:00 pm GMT - BoC Governor Macklem

• 8:00 pm GMT - Fed Williams

• 8:05 pm GMT - Fed Chairman Powell

• 10:05 pm GMT - Fed Bowman