Economic calendar: Services PMI reading from eurozone, US factory orders

• European indices to open lower
• Weak macro data from China again
• Investors await services PMI readings from Europe and the U.S. trade balance

Weakness in China's indices translated into risk aversion in Europe today, and Australia's RBA central bank indicated that the future of China's economy remains uncertain. Today's session on the macro data side will pass under the sign of service sector inflation readings. We will learn the key PMI indexes of the service sector, from the largest economies in Europe. Previously published services PMI data from China turned out to be weaker than forecast, with a flat reading from Japan.

The important macro reading of the day will, of course, be data on durable goods orders from the United States,It is worth noting that trading on Wall Street was closed yesterday, with Chinese indices gaining strongly. Today, markets in the US will reopen and Wall Street sentiment will likely determine the rest of the week. Facing a series of macro data releases from Europe and the US, higher volatility may be recorded by EURUSD, which is losing 0.25% so far.

8:15 BST - PMI services Spain Forecast: 51.5 vs. -52.8 previously

8:45 BST - PMI services Italy Forecast: 50.4 vs. 51.5 previously

8:50 BST - PMI services France Forecast: 46.7 vs 46.7 previously

8:55 BST - PMI services Germany Forecast: 47.3 vs 47.3 previously

09:00 BST - PMI services Eurozone Forecast: 47 vs 47 previously

09:30 BST - PMI services United Kingdom Forecast: 48.7 vs 48.7 previously

10:00 BST - Eurozone PPI inflation y/y: Forecast: -7.6% vs -3.4% previously

15:00 BST - U.S. factory orders Forecast: 2.3% vs. 2.5% previously

• Revised US durable goods orders (previously -5,2%) and core durable goods (previously 0,5%)

Revision of

Central bankers' speeches

• 13:30 BST - ECB Schnabel
• 15:30 BST - ECB de Guindos