Economic calendar: Second-tier US data, speeches from Fed members

• European indices set for higher opening
• Second-tier data from the United States
• Possible decision on Grayscale Bitcoin ETF

Index futures point to a higher opening of the European cash session today. This comes after solid performance of tech shares fuelled gains on S&P 500 and Nasdaq during the Wall Street session yesterday and later on regional indices during the Asia-Pacific session as well. These gains come in spite of a renewed sell-off on US Treasuries market, which led 10-year yields to 16-year highs above 4.30%.

Economic calendar for the day ahead is light. Traders will be offered second-tier data from Poland and the United States. Some USD volatility may be present around 3:00 pm BST when existing home sales data for July and Richmond Fed index for August will be released. USD volatility may also be present during speeches from Fed members Barkin, Goolsebee & Bowman. Oil traders will focus on API report on inventories, which is expected to show a big draw but smaller than last week.

Also, Court of Appeals decision on Grayscale's application to convert its Bitcoin Trust into Bitcoin Exchange-Trade Fund (ETF) is expected today, somewhere around 4:00 pm BST. Positive ruling could give cryptocurrencies a boost so it is worth watching.

9:00 am BST - Poland, retail sales for July. Expected: 2.5% YoY. Previous: 2.1% YoY

3:00 pm BST - US, existing home sales for July. Expected: 4.15 million. Previous: 4.16 million

3:00 pm BST - US, Richmond Fed index for August. Expected: -8. Previous: -9

9:40 pm BST - API report on US oil inventories. Expected: -2.9 mb. Previous: -6.19 mb

Central bankers' speeches

• 12:30 pm BST - Fed Barkin
• 7:30 pm BST - Fed Goolsebee
• 8:30 am BST - Fed Goolsebee & Bowman