Economic calendar: Q2 GDP data from Europe, earnings from Microsoft and AMD

• European indices set for flat opening
• Q2 GDP reports from European countries
• Flash CPI readings for July from Spain and Germany
• Earnings reports from Microsoft and AMD 

European index futures point to a flat or slightly lower opening of today's cash session for major indices from the Old Continent. This comes after a rather downbeat trading during the Asia-Pacific session earlier today and after a mixed trading on Wall Street yesterday. Newsflow during the Asia-Pacific trading was light and it seems investors are getting in 'wait-and-see' mode ahead of this week's key events - central bank decisions and Big Tech earnings.

Economic calendar for today includes a number of top-tier releases from Europe. Traders will be offered Q2 GDP report from Spain, Italy, Germany and Eurozone, as well as flash CPI data for July from Spain and Germany. Conference Board consumer confidence index for July is the highlight of the US session. When it comes to earning calendar for today, traders will be offered report from some of US key tech companies, like AMD or Microsoft.

8:00 am BST - Spain, flash CPI inflation for July.

• Monthly. Expected: -0.3% MoM. Previous: +0.4% MoM
• Annual. Expected: 3.1% YoY. Previous: 3.4% YoY

8:00 am BST - Spain, GDP report for Q2 2024. Expected: 0.5% QoQ. Previous: 0.8% QoQ

9:00 am BST - Italy, GDP report for Q2 2024. Expected: 0.2% QoQ. Previous: 0.3% QoQ

9:00 am BST - Germany, GDP report for Q2 2024. Expected: 0.1% QoQ. Previous: 0.2% QoQ

10:00 am BST - Euro area, GDP report for Q2 2024. Expected: 0.2% QoQ. Previous: 0.3% QoQ

1:00 pm BST - Germany, flash CPI inflation for July.

• Monthly. Expected: 0.2% MoM. Previous: 0.1% MoM
• Annual. Expected: 2.2% YoY. Previous: 2.2% YoY

3:00 pm BST - US, JOLTS report for June. Expected: 8.02 million. Previous: 8.14 million

3:00 pm BST - US, Conference Board consumer confidence index for July. Expected: 99.8. Previous: 100.4

9:40 pm BST - API report on US oil inventories

Top US earnings reports

• Advanced Micro Devices (AMD.US) - after market close
• Arista Networks (ANET.US) - after market close
• Electronic Arts (EA.US) - after market close
• Merck & Co (MRK.US) - before market open
• Microsoft (MSFT.US) - after market close
• Pfizer (PFE.US) - before market open
• Procter & Gamble (PG.US) - before market open
• Phillips 66 (PSX.US) - before market open
• PayPal Holdings (PYPL.US) - before market open
• Starbucks (SBUX.US) - after market close