Economic calendar: Quiet macro day at the start of an important week

• Futures indicate a lower opening for the cash session in Europe
• USA CPI inflation coming up on Tuesday

Today, futures contracts for European indices are trading lower, pointing towards a weaker opening for the cash session on the Old Continent. The DAX is down by 0.30%, while the largest drop, over 0.40%, is noted in the EU50 (EURO STOXX 50 Index). There are no significant macroeconomic publications scheduled for today. Investors will be looking at industrial production and CPI data from a few smaller countries.

However, things get more interesting on Tuesday. Tomorrow, the CPI inflation report for October in the USA will be published. A significant decrease in inflation to 3.3% YoY is expected, compared to the last reading of 3.7% YoY. The intensity of publications will not decrease in the following days. Macro data for the United Kingdom will be published, including labor market and inflation data. Then, investors will learn about the USA PPI inflation report and retail sales for October.

Detailed Agenda for the Day:

8:30 AM - Hungary, Industrial Production for September:

• nsa YoY: expectations -7.3% YoY; previously -5.3% YoY
• wda YoY: expectations -5.8% YoY; previously -6.1% YoY

Bankers' Speeches:

• 9:15 AM - ECB, board member de Guindos