Economic calendar: Inflation from Europe, Canadian Q2 GDP

• European markets set for higher opening

• Flash inflation from the euro area

• Q2 GDP report from Canada

Futures markets point to a higher opening of the European cash session today. Trading in Asia was mixed with Chinese indices dropping and gains being registered in other countries. There are quite a lot of data releases scheduled for today. However, most of GDP reports will be revision and therefore should not have much of an impact. Canadian reading will be the initial GDP report for Q2 so some volatility on CAD may be present around release time. Apart from that, EUR trades will watch inflation data from the Old Continent while oil traders will focus on API report.

7:45 am BST - France, GDP report for Q2 2021 (revision). First release: 0.9% QoQ

8:55 am BST - Germany, unemployment rate for August. Expected: 5.6%. Previous: 5.7%

9:00 am BST - Poland, GDP report for Q2 2021 (revision). First release: 1.9% QoQ

9:00 am BST - Poland, CPI inflation for August. Expected: 5.2% YoY. Previous: 5.0% YoY

10:00 am BST - Euro area, HICP inflation for August. Expected: 2.8% YoY. Previous: 2.2% YoY

1:30 pm BST - Canada, GDP report for Q2 (annualized). Expected: 2.5%. Previous: 5.6%

2:45 pm BST - US, Chicago PMI index for August. Expected: 68. Previous: 73.4

3:00 pm BST - US, Conference Board consumer confidence for August. Expected: 124. Previous: 129.1

9:40 pm BST - API report on oil inventories. Expected: -0.9 mb. Previous: -1.62 mb