Economic calendar: Survey data from Germany, ECB speaker

• European indices set to open higher

• German IFO indices for December at 9:00 am GMT

• Speech from ECB's De Guindos

Futures markets point to a higher opening of the European cash session today, with DAX futures currently trading around 100 points above Friday's cash close. Final pre-Christmas weekend on the markets has begun and traders should be aware of a potential for thinner liquidity and, overall, a less busy week ahead. Bank of Japan is set to announce rate decision overnight and it is a key event of the week. While BoJ meetings are usually non-events, light calendar and media reports on potential inflation target revision next year have drawn more attention to JPY.

When it comes to today's calendar, traders will be offered IFO indices from Germany and speech from ECB member, De Guindos. 

9:00 am GMT - Germany, IFO indices for December.

• Business climate. Expected: 87.5. Previous: 86.3

• Current conditions. Expected: 93.5. Previous: 93.1

• Expectations. Expected: 82.0. Previous: 80.0

Central bankers' speeches

• 8:00 am GMT - ECB De Guindos