Economic calendar: Focus on Michigan and WASDE data

• European markets set for higher opening
• Michigan Consumer Sentiment Index
• WASDE report 

Futures markets point to a higher opening for the majority of the European blue chips indices. Economic calendar for the European session is light. Traders will be offered Eurozone industrial production figures for June and final CPI reading from Spain, however these reports are not expected to result in a volatility jump on the markets. Things may get more interesting in the afternoon when preliminary UoM data for August will be released. Today's reading is expected to show slight improvement of consumer sentiment, however investors will focus mainly on inflation expectations figures. Meanwhile wheat and other grain traders will focus on the WASDE report.

8:00 am BST - Spain, CPI inflation for July (final). Expected: 10.8% YoY. Previous: 10.2% YoY

10:00 am BST - Euro area, industrial production for June. Expected: 0.8% YoY. Previous: 1.6% YoY

3:00 pm BST - US, University of Michigan consumer sentiment for August (preliminary). Expected: 52.5. Previous: 51.5

5:00 pm BST - WASDE Report