Economic calendar: US inflation data and banks earnings

• European markets expected to open lower

• US CPI data for June

• Earnings from JPMorgan and Goldman Sachs

European futures point to a slightly lower opening of today's cash session. Economic calendar is light in the first half of the day. Final CPI readings for June from EU member countries are unlikely to have an impact on the markets. However, things get much more interesting in the afternoon. US CPI reading for June will be released at 1:30 pm BST and is expected to show a slightly lower reading than last month. Apart from that, JPMorgan and Goldman Sachs will publish Q2 earnings reports ahead of Wall Street open and launch US earnings season. 

Last but not least, US Trade Representative Tai and UK trade minister Truss are set to meet today to discuss risks to free and fair trade between the United Kingdom and the United States. UK Trade Representative is on a 5-day visit to the United States this week.

7:45 am BST - France, CPI inflation for June (final). First release: 1.5% YoY

1:30 pm BST - US, CPI inflation for June.

• Headline. Expected: 4.9% YoY. Previous: 5.0% YoY

• Core. Expected: 4% YoY. Previous: 3.8% YoY

9:40 pm BST - API report on oil inventories. Expected: -4 mb. Previous: -7.98 mb

Central bankers' speeches

• 5:00 pm BST - Fed Bostic

• 7:30 pm BST - Fed Bostic

• 7:50 pm BST - Fed Rosengren

US earnings releases

• JPMorgan (JPM.US) - before market open

• Goldman Sachs (GS.US) - before market open

• PepsiCo (PEP.US) - before market open