Economic calendar: Quiet start to the week

• Stock in Europe expected to open slightly lower or flat

• Second-tier data from US and Europe

• Tyson Foods and Warner Music Group to release earnings

Futures markets point to a slightly lower or flat opening of today's cash session for major European stock market indices. No major news arrived on the markets over the weekend and Asian session has been quite calm with the majority of regional stock benchmarks moving higher.

The day ahead looks quite calm with just some second-tier data scheduled, like trade balance from euro area or NY Empire index. Neither of those tends to have a major impact on the market. Developments on the oil market are one of the things to watch. Calls on the US President to release the SPR mount and White House said it is carefully exploring possible options. Nevertheless, tapping into strategic reserves would have only a short-term impact on prices. The US dollar is expected to become more active later into the week as number of speeches from Fed members is scheduled for Tuesday to Thursday.

9:00 am GMT - Poland, CPI inflation for October (final). First release: 6.8% YoY

10:00 am GMT - Euro area, trade balance for September. Expected: €14.5 billion. Previous: €11.1 billion

1:30 pm GMT - US, New York Empire index for November. Expected: 20.4. Previous: 19.8

Central bankers' speeches

• 2:30 pm GMT - BoE Governor Bailey

• 3:45 pm GMT - ECB de Guindos

US earnings releases

• Advance Auto Parts (AAP.US) - after market close

• Tyson Foods (TSN.US) - before market open

• Warner Music (WMG.US) - before market open