Economic calendar: new home sales and CB Consumer Confidence Index in the US

• European indices are opening slightly higher
• Inflation data from Canada
• Consumer Confidence Index and US existing home sales data

Tuesday begins calmly in the markets, with a slight rebound after yesterday's declines on the DAX and Nasdaq. CFD contracts for the German DAX index are trading 0.44% higher, and the price has again surpassed the 16,000-point level. In the early part of today, a key piece of information was the support for the Chinese yuan by the government through a reverse repo operation amounting to 37 trillion yuan.

Later in the day, markets are awaiting inflation data from Canada, where a decrease in the CPI Headline to 3.4% year on year is expected compared to previous readings at 4.4%.

Meanwhile, in the US, investors will receive data on existing home sales and the CB Consumer Confidence Index. Real estate sector data will show the strength of demand in the US economy. The latest data showed a solid 4.1% month-on-month increase to 683k in April. Currently, data for May is expected to be slightly lower at around 670k but still indicating growing demand.

Detailed economic calendar for the day:

2:30 PM - US, Durable Goods Orders for May:

• Ex-Transport: Expected: -0.1% MoM, Previous: -0.3% MoM
• Headline: Expected: -1.1% MoM, Previous: 1.1% MoM

2:30 PM - Canada, Inflation Data for May:

• Core CPI: Expected: 3.9% YoY, Previous: 4.1% YoY
• CPI: Expected: 3.4% YoY, Previous: 4.4% YoY

4:00 PM - US, Existing Home Sales for May:

• Expected: 670k, Previous: 683k

4:00 PM - US, CB Consumer Confidence Index for June:

• Expected: 103.6, Previous: 102.3