Economic calendar: Eurozone inflation and Jerome Powell's speech in the spotlight 📣

Today's macro calendar is relatively light. The most important events of the day will be the publication of the CPI report from the Eurozone, Jerome Powell's speech, and the release of the JOLTS job report from the US.

Investors' attention in the Old Continent will be focused on the final CPI report from the Eurozone. Analysts expect a slight decrease in the core inflation rate to 2.8% year-on-year in June compared to 2.9% year-on-year in May. Meanwhile, the headline inflation is expected to fall to 2.5% year-on-year compared to 2.6% year-on-year in the previous month.

In the second part of the day, market attention will shift across the ocean, where we will learn about the new JOLTS job openings. This report will be the first of several important labor market publications this week. However, it is important to remember that the JOLTS report still pertains to the previous month of May, while the ADP and NFP reports will be for June. Shortly before, a speech by Fed Chairman Jerome Powell is scheduled at the European Central Bank (ECB) Forum on Central Banking in Portugal.

Detailed calendar of the day:

08:30 AM BST, Euro Zone - ECB's De Guindos Speaks

09:30 AM BST, Euro Zone - ECB's Elderson Speaks

10:00 AM BST, Euro Zone - Employment Data for May:

• Unemployment Rate: forecast 6.4%; previous 6.4%;

10:00 AM BST, Euro Zone - Inflation Data for Jun:

• HICP ex Energy and Food: previous 0.4% MoM;
• HICP ex Energy & Food: previous 2.9% YoY;
• Core CPI: previous 0.4% MoM;
• Core CPI: forecast 2.8% YoY; previous 2.9% YoY;
• CPI: forecast 2.5% YoY; previous 2.6% YoY;
• CPI: previous 0.2% MoM;

11:30 AM BST, Euro Zone - ECB's Schnabel Speaks

02:30 PM BST, Euro Zone - ECB President Lagarde Speaks

02:30 PM BST, United States - Fed Chair Powell Speaks

02:30 PM BST, Canada - PMI Data for Jun:

• S&P Global Canada Manufacturing PMI: forecast 50.2; previous 49.3;

03:00 PM BST, United States - JOLTs Job Openings for May:

• forecast 7.960M; previous 8.059M;