Economic calendar: Second-tier data from Europe and US, RBA decision ahead

• European indices set for flat opening
• Gold erases overnight surge
• Second-tier data from Europe and US, RBA rate decision

European index futures are trading little change compared to Friday's cash closing levels. Attention this morning is on gold and its surge at the launch of overnight trading. GOLD spiked to a daily intraday high near $2,140 per ounce before erasing all of those gains. Oil is trading 1% lower, deepening last week's declines to over 8%. USD and JPY are the best performing G10 currencies, while NZD and AUD lag the most.

Economic calendar for today is light. Traders will be offered minutes for the last Riksbank meeting, Sentix index from euro area as well as durable and factory goods orders from the United States. AUD may see some action during the upcoming Asia-Pacific session as RBA is set to announce rate decision.

8:30 am GMT - Riksbank minutes

9:30 am GMT - Euro area, Sentix index for December. Expected: -17.0. Previous: -18.6

3:00 pm GMT - US, durable goods orders for October (revision).

• Headline. First release: -5.4% MoM
• Ex-transport. First release: 0.0% MoM

3:00 pm GMT - US, factory orders for October. Expected: -2.5% MoM. Previous: 2.8% MoM

Asia-Pacific session ahead

• 10:00 pm GMT - Australia, services PMI for November (final)
• 11:30 pm GMT - Japan, Tokyo CPI inflation for November. Expected: 2.4% YoY. Previous: 2.7% YoY
• 1:45 am GMT - China, services PMI for November
• 3:30 am GMT - RBA rate decision
• 5:00 am GMT - India, services PMI for November 

Central bankers speeches

• 8:45 am GMT - ECB de Guindos
• 11:10 am GMT - ECB Elderson
• 11:30 am GMT - BoE Dhingra
• 2:00 pm GMT - ECB President Lagarde