Economic calendar: Powell and Lagarde speeches ahead!

• European indices are indicating a flat opening for the Wednesday cash session
• Central bank speeches in focus

The major European indices are expected to open flat in today's cash session. Currently, CFD contracts for the DAX indicate an opening 0.15% higher above 16,000 points. The macroeconomic calendar for today is relatively light and does not feature any significant publications. Several countries in Europe will release CPI and PPI data, such as Italy and Slovakia. Italy is expected to see a decrease in CPI inflation for June to 6.8% from 7.6% previously.

Today, market attention will be focused on central bank speeches. Scheduled speeches include FED Chairman Jerome Powell, EBC Chairman Lagarde, BoJ Chairman Ueda, and several members of the ECB.

Detailed schedule for the day:

11:00 AM BST, Italy - CPI Data for June:

• Headline: Expected: 6.8%, Previous: 7.6%

Central bank speeches:

• 09:00 amBST, ECB - De Guindos

• 2:30 pm BST, Bank of England (BoE) - Bailey, President

• 2:30 pm BST, Federal Reserve (Fed) - Powell, Chair

• 2:30 pm BST, ECB - Lagarde, President

• 54:00 pm BST, ECB - Lagarde, President