Economic calendar: ISM manufacturing, OPEC+ meeting

• European markets set to open slightly higher

• Ministers from OPEC+ countries meet today

• ISM manufacturing data due at 3:00 pm GMT

Futures markets point to a higher opening of today's trading session on the Old Continent. The beginning of 2022 looks solid for stocks although there are some exceptions, like indices from China that took a hit today. As the holiday period ended and markets are back in full action, the economic calendar is also getting more dense. Investors will be offered some macro reports today with ISM manufacturing being the top one. OPEC+ ministers will also meet today to decide on future output. The most likely scenario is that output increases will be left unchanged at 400k bpd. Key players in the group, like Saudi Arabia, expressed their support for such a move so there seems to be a low chance for any surprise.

8:55 am GMT - Germany, unemployment rate for December. Expected: 5.3%. Previous: 5.3%

9:30 am GMT - UK, manufacturing PMI for December (final). First release: 57.6

1:30 pm GMT - Canada, industrial production for November. Expected: +0.9% MoM. Previous:+1.3% MoM

3:00 pm GMT - US, ISM manufacturing for December. Expected: 60.2. Previous: 61.1

9:40 pm GMT - API report on oil inventories. Expected: -3.4 mb