Economic calendar: Second-tier data from US

• Stocks in Europe set for lower opening
• NY Empire State Manufacturing
• Canada wholesalers and manufacturing sales figures
• Public holidays in Poland, Italy and France

Futures markets point to a slightly lower opening of today's cash session on the Old Continent following a mixed performance of equities during the Asian session as the new data from China showed industrial activity slowed more than expected in July. A point to note is that liquidity may be somewhat lower on the global markets today as traders from France, Italy and Poland will be off for holiday.

Today's economic calendar is almost empty, as it is often the case for Mondays. NY Empire State Manufacturing together with Canada's wholesalers and manufacturing sales figures will be released in the afternoon but it rarely has a big impact on the market. There are no noteworthy earnings releases scheduled for today so traders should look out for headline news as potential volatility triggers. 

1:30 pm BST - US, NY Empire State Manufacturing Index for August. Expected: 5. Previous: 11.1 

1:30 pm BST - Canada, Manufacturing sales MoM for June. Expected: -1.0%. Previous: -2.0% 

1:30 pm BST - Canada, Wholesale sales MoM for June. Expected: 0.5%. Previous: 1.6%