Economic calendar: US manufacturing ISM, European CPI for June

• European markets set to open lower

• US manufacturing ISM, PMI revisions

• CPI readings from Poland and euro area

Futures markets point to a lower opening of the European cash session. Moods on the markets are poor following the latest Atlanta Fed GDP indicator reading that pointed to a recession in Q2 2022 in the US economy. Economic calendar for the day ahead is packed with release of survey data, mostly manufacturing PMIs. However, most of those will be revision of June data. US manufacturing ISM for June is a top reading of the day. Traders will also be offered CPI readings for June from Poland and the euro area. In both cases an acceleration is expected.

8:00 am BST - Poland, manufacturing PMI for June. Expected: 48.0. Previous: 48.5

8:15 am BST - Spain, manufacturing PMI for June. Expected: 52.1. Previous: 53.8 

8:45 am BST - Italy, manufacturing PMI for June. Expected: 50.4. Previous: 51.9 

8:50 am BST - France, manufacturing PMI for June (final). First release:  51.0

8:55 am BST - Germany, manufacturing PMI for June (final). First release:  52.0

9:00 am BST - Euro area, manufacturing PMI for June (final). First release: 52.0 

9:00 am BST - Poland, CPI inflation for June. Expected: 15.5% YoY. Previous: 13.9% YoY

9:30 am BST - UK, manufacturing PMI for June (final). First release: 53.4

10:00 am BST - Euro area, CPI inflation for June. Expected: 8.4% YoY. Previous: 8.1% YoY

2:45 pm BST - US, manufacturing PMI for June (final). First release: 52.4

3:00 pm BST - US, ISM manufacturing for June. Expected: 54.8. Previous: 56.1