Economic calendar: FOMC minutes, services PMI revisions

• European indices set for slightly lower opening
• FOMC minutes in the spotlight
• Revisions of European services PMIs for June

European index futures point to a slightly lower opening of the cash session on the Old Continent today. This comes after a downbeat trading in Asia-Pacific earlier today, where the majority of indices from the region dropped. 

Economic calendar for today is packed with data releases. FOMC minutes release at 7:00 pm BST is a key event of the day and may shed some light on why Fed decided to keep rates unchanged while at the same time boosting interest rate forecast in dot-plot. Apart from FOMC minutes, traders will also be offered services PMIs from Europe for June. However, majority of those will be revisions so impact on the markets may be small. EURUSD may also get some more volatile during central bankers' speeches while oil traders will focus on API report. 

7:45 am BST - France, industrial production for May. Expected: -0.3% MoM. Previous: +0.8% MoM

8:00 am BST - Turkey, CPI inflation for June. Expected: 39.5% YoY. Previous: 39.6% YoY

8:15 am BST - Spain, services PMI for June. Expected: 55.6. Previous: 56.7

8:45 am BST - Italy, services PMI for June. Expected: 53.3. Previous: 54.0

8:50 am BST - France, services PMI for June (final). First release: 48.0

8:55 am BST - Germany, services PMI for June (final). First release: 54.1

9:00 am BST - Euro area, services PMI for June (final). First release: 52.4

9:30 am BST - UK, services PMI for June (final). First release: 53.7

10:00 am BST - Euro area, PPI inflation for May. Expected: -1.3% YoY. Previous: +1.0% YoY

3:00 pm BST - US, factory orders for May. Expected: +0.8% MoM. Previous: +0.4% MoM

7:00 pm BST - FOMC minutes

9:40 pm BST - API report on US oil inventories. Expected: -1.7 mb

Central bankers' speeches

• 9:00 am BST - ECB Visco
• 12:00 pm BST - ECB Villeroy
• 7:00 pm BST - ECB De Cos
• 9:00 pm BST - Fed Williams