Economic calendar: ADP jobs report in the spotlight

• European markets seen opening lower

• ADP report expected to show over-400k jobs gains

• DOE in focus after unexpected API build

Futures markets point to a lower opening of today's cash session in Europe, following a downbeat Asian session. German DAX is seen opening over 100 points below yesterday's cash close. US dollar dominates among G10 currencies and puts pressure on precious metals. Elsewhere, NZD is top G10 laggard following an expected 25 basis points rate hike (some were expecting a 50 bp hike).

Looking at the calendar for the day ahead, there are 2 major readings that will draw attention. ADP report on employment for September, a final hint ahead of Friday's NFP release, will be published at 1:15 pm BST and is expected to show an over 400k jobs gain. Two hours later at 3:30 pm BST, investors will be offered a DOE report on oil inventories. Note that yesterday's API reading showed an unexpected build in oil stocks.

8:00 am BST - Spain, industrial production for August. Expected: 3.5% YoY. Previous: 3.4% YoY

10:00 am BST - Euro area, retail sales for August. Expected: 0.7% MoM. Previous: -2.3% MoM

1:15 pm BST - US, ADP report on employment for September. Expected: 428k. Previous: 374k

3:30 pm BST - DOE report on oil inventories.

• Oil inventories. Expected: -0.3 mb

• Gasoline inventories. Expected: +0.1 mb

• Distillate inventories. Expected: -0.8 mb

Central bankers' speeches

• 8:50 am BST - ECB McCaul

• 2:00 pm BST - Fed Bostic

• 4:30 pm BST - Fed Bostic