Economic calendar: US oil inventory report, second-tier data from Europe

• European indices set to open lower
• US oil inventory data on watch
• Second-tier data from Europe

European index futures point to a lower opening of the cash session on the Old Continent today. DAX and EuroStoxx futures are trading around 0.3% lower. This comes after a downbeat trading during the Asia-Pacific session earlier today and after a rather poor session on Wall Street yesterday. Bitcoin calmed after yesterday's volatile moves triggered by fake SEC tweet on Bitcoin spot ETF approval. AUD is the best performing G10 currency, while JPY lags the most.

Economic calendar for the day ahead is light. Traders will be offered French industrial production reading and Italian retail sales data for November in the morning, but those reports rarely trigger big moves on EUR market. Oil traders will focus on DOE report at 3:30 pm GMT, after private API data released yesterday showed a much bigger inventory draw than expected.

7:45 am GMT - France, industrial production for November. Expected: +0.1% MoM. Previous: -0.3% MoM

9:00 am GMT - Italy, retail sales for November. Expected: 0.2% MoM. Previous: 0.4% MoM

3:00 pm GMT - US, wholesale inventories. Expected: -0.1% MoM. Previous: -0.4% MoM

3:30 pm GMT - DOE report on US oil inventories

• Oil inventories. Expected: -0.7 mb (API: -5.21 mb)
• Gasoline inventories. Expected: +2.5 mb (API: +4.89 mb)
• Distillate inventories. Expected: +2.4 mb (API: +6.87 mb)

Central bankers' speeches

• 8:20 am GMT - ECB De Guindos
• 2:15 pm GMT - BoE Govenror Bailey
• 7:30 pm GMT - ECB De Cos
• 8:15 pm GMT - Fed Williams