Economic calendar: US PCE inflation and durable goods orders for April

• European stock market indices set to open flat

• PCE, personal spending & income, durable goods orders data for April

• Speeches from 2 ECB members

European index futures point to a flat opening of the cash trading session on the Old Continent today. This comes after an upbeat trading in Asia earlier today and a mixed trading on Wall Street yesterday, where tech stocks rallied. Energy commodities trade mixed with oil trading slightly higher and natural gas pulling back. Precious metals benefit from USD weakening.

Economic calendar for today includes some interesting data releases from the United States. Trade will be offered core PCE inflation, personal spending & income as well as durable goods orders for April in the early afternoon. Michigan consumer sentiment for May will be released hour and a half later but as this will be a revision, no major market reaction is expected. 

1:30 pm BST - US, data pack for April.

• Core PCE. Expected: 4.6% YoY. Previous: 4.6% YoY

• Personal income. Expected: 0.4% MoM. Previous: 0.3% MoM

• Personal spending. Expected: 0.3% MoM. Previous: 0.0% MoM

1:30 pm BST - US, durable goods orders for April

• Headline. Expected: -1.0% MoM. Previous: +2.8% MoM

• Ex-transportation. Expected: 0.0% MoM. Previous: 0.2% MoM

3:00 pm BST - University of Michigan consumer sentiment for May (final). First release: 57.8

Central bankers' speeches

• 8:30 am BST - ECB Vujcic

• 8:40 am BST - ECB Lane