Economic calendar: busy day ahead, ISM, Jobless Claims and Apple Earnings 🔎

• Futures Indices point to a higher lower opening of the session in European markets
• ISM and US labor market data
• Bank of England's decision on interest rates

Today, investors will learn many key macroeconomic data for the economy. However, after yesterday's deep declines on most indices, mainly in the USA, today may bring a slight reaction.

Investors will be closely watching the publication of data from the US labor market. Today, a report on the number of unemployment benefits for the last week will be published. Estimates assume a low reading again at 225k benefits last week compared to 221k last week. After yesterday's strong ADP report, these would be further labor market data arguing for a rate hike by the FED. Another important report will be the publication of NFP tomorrow.

In addition to this, investors await the publication of the ISM index for services, durable goods in the USA, and the decision of the central bank of England. The market expects a 25bp increase by the BoE, but there are also voices for a 50bp increase.

Detailed macro calendar:
8:55 AM BST, Germany, PMI for services for July

• Expected 52; Previously 54.1

9:00 AM BST, Eurozone, PMI for services for July:

• Expected 51.1; Previously 52

12:00 PM BST, Great Britain, BoE decision on interest rates and press conference:

• Expectations 25bp from 5.00% to 5.25%

1:30 PM BST, USA, unemployment benefit claims

• Expected 225k; Previously 221k

3:00 PM BST, USA, Non-Manufacturing ISM index for July:

• Overall: Expected 53; Previously 53.9
• Employment: Previously 53.1
• Prices: Previously 54.1

3:00 PM BST, USA, durable goods for June:

• Expected 4.7% MoM; Previously 2.0% MoM

Company results:

• After the close of the stock market session in the USA, quarterly reports by Amazon and Apple will be published.