Economic calendar: US holiday, Putin-Erdogan meeting on grains

• European markets set to open higher
• Second-tier data from Europe, ECB speakers
• Holidays in the United States and Canada

Futures markets point to a slightly higher opening of the European cash session today. This comes after upbeat trading during the Asia-Pacific session, especially in China. Chinese indices traded 1-2.5% higher as sentiment towards the domestic property sector improved after developer Country Garden won an appeal, allowing it to extend payments on onshore bonds.

Economic calendar for the day ahead is light. A key thing to keep in mind is that traders from the United States and Canada will be off to celebrate holiday today therefore liquidity, especially in the afternoon, is likely to be thin. Apart from that, there is only some second-tier data scheduled for today, including Sentix index from the euro area. EUR may see some more move in the early afternoon as a number of ECB members are scheduled to speak. Turkish president Erdogan is set to meet with his Russian counterpart Putin to discuss Black Sea grain corridor today.

Things get more interesting later into the week with rate decisions from RBA and BoC, as well as release of US services ISM index for August.

8:00 am BST - Switzerland, GDP report for Q2 2023. Expected: 0.1% QoQ. Previous: 0.3% QoQ

8:00 am BST - Turkey, CPI inflation for September. Expected: 55.9% YoY. Previous: 47.8% YoY

9:30 am BST - Euro area, Sentix index for September. Expected: -19.8. Previous: -18.9

Central bankers' speeches

• 12:30 pm BST - ECB Elderson
• 2:00 pm BST - ECB Nagel
• 2:30 pm BST - ECB President Lagarde
• 3:00 pm BST - ECB Panetta

Trading hours changes due to US holiday

• VIX - trading until 4:30 pm BST
• TNOTE, US30, US100, US500, US2000 - trading until 6:00 pm BST
• OIL, LSGASOIL - trading until 6:30 pm BST
• NATGAS, OIL.WTI, GASOLINE, GOLD, SILVER, PALLADIUM, PLATINUM - trading until 7:30 pm BST
• CORN, SOYBEAN, WHEAT, COCOA, COFFEE, COTTON, SUGAR, SOYOIL, CATTLE, LEANHOGS - no trading