Economic calendar: US Q1 GDP data, German CPI for April

• European markets set for higher opening

• US Q1 GDP data, German CPI for April

• Earnings from Apple and Amazon

Futures markets point to a higher opening of today's European cash session. DAX futures are trading over 100 points above yesterday's cash close. The day ahead looks interesting thanks to top-tier macro releases as well as some top-tier earnings releases. Investors will be offered a flash CPI report for April from Germany at 1:00 pm BST, that is expected to show a slight deceleration in price growth. US Q1 GDP report will be published half an hour later so traders may expect EURUSD to become more volatile in the early afternoon. When it comes to earnings, investors will be offered financial reports from Amazon, Apple, Twitter and Intel, among others.

8:00 am BST - Spain, flash CPI inflation for April. Expected: 9.0% YoY. Previous: 9.8% YoY

8:30 am BST - Riksbank decision

1:00 pm BST - Germany, flash CPI inflation for April. Expected: 7.2% YoY. Previous: 7.3% YoY

1:30 pm BST - US, GDP growth for Q1 2022 (annualized). Expected: 1.1% YoY

1:30 pm BST - US, jobless claims. Expected: 180k. Previous: 184k

Top Wall Street earnings releases

• Amazon (AMZN.US) - after market close

• Apple (AAPL.US) - after market close

• Caterpillar (CAT.US) - before market open

• Comcast (CMCSA.US) - before market open

• Gilead Sciences (GILD.US) - after market close

• Intel (INTC.US) - after market close

• Mastercard (MA.US) - before market open

• McDonald's (MCD.US) - before market open

• Merck & Co (MRK.US) - before market open

• Robinhood (HOOD.US) - after market close

• Twitter (TWTR.US) - before market open