Economic calendar: Consumer sentiment readings from the Eurozone and the US

• European indices open higher, UK.100 gains more than 1%
• Lower PPI inflation in Germany and lower CPI inflation from the UK
• Market attention shifts to consumer sentiment readings from the Eurozone and the US

Today's macro calendar is relatively light, with no very significant publications scheduled. After the German PPI and CPI inflation readings, from the UK, the markets made sure that inflation would continue to fall, and both readings brought considerable surprise, with the scale of the decline. Now the markets are waiting especially for a consumer sentiment readings from the Eurozone and US economies, both at 3 PM GMT. These will shed more light on whether consumer sentiments finally will be the 'price' for the significant inflation declines.

Detailed macro calendar:

3 PM GMT, Eurozone, consumer sentiment, flash reading (-16.3 forecast vs. -16.9 previously)

• Core CPI: expected 2.9% y/y; previously 3.1% y/y

3 PM GMT, US, consumer sentiment by Conference Board (104.5 forecast vs. 102 previously)

• US home sales: 3.78 million forecast vs. 3.79 million previously (-0.4% vs. -4.3% previously)

3:30 PM GMT., U.S., oil inventories by EIA

• Oil inventories: - 2.3 million barrels vs -4.25 million barrels previously
• Gasoline inventories: 1.35 million barrels vs 0.4 million barrels previously
• Distillates inventories: 0.69 million barrels vs 1.49 million barrels previously

19:30 - Bank of Canada meeting minutes

Central bankers' speeches:

• 15:00 - ECB member, Lane
• 18:00: - Fed member, Goolsbee