Economic calendar: US PPI inflation ahead 🔎

• Producer Price Index (PPI) in the USA
• ECB Minutes from the June Meeting
• European indices to open higher in today's cash session

European futures indices indicate a slightly higher opening for the cash session in Europe. CFD contracts for the DAX (DE30) are trading above 16,100 points. Today, investors will receive another top tier macro data. In Europe, several smaller countries will publish CPI data and industrial production figures. However, the most significant event in the European market will be the publication of the ECB minutes from the latest meeting.

Moving to the US market, the most important macro publication will be the readings of Producer Price Index (PPI) inflation, but investors will also receive initial jobless claims. A decrease in inflation to 0.4% YoY and core inflation to 2.7% YoY is expected. Today's PPI data for June is expected to reinforce the deflationary trends observed in the global economy.

Detailed macro calendar:
7:30 am BST - Hungary, Industrial Production:

• n.s.a. - Expected: -6.9% YoY, Previous: -8.3% YoY
• s.a. - Expected: 1.6% MoM, Previous: -2.5% MoM

7:45 am BST - France, CPI:

• CPI: Expected: 4.5% YoY, Previous: 5.1% YoY

12:30 pm BST - ECB, Minutes publication
1:30 pm BST - USA, PPI for June:

• Headline: Expected: 0.4% YoY, Previous: 1.1% YoY
• Core: Expected: 2.7% YoY, Previous: 2.8% YoY

1:30 pm BST - USA, Initial Jobless Claims:

• Expected: 250k, Previous: 248k