Economic calendar: US survey data, central bankers' speeches

• European indices set to open higher
• Meeting between Biden and congressional leaders postponed
• University of Michigan data expected to show slight deterioration

Futures markets point to a higher opening of the European cash session today. This comes after a downbeat trading on Wall Street yesterday and a rather downbeat Asian session earlier today. Risk-off moods can be spotted on energy commodities and industrial metals. Meanwhile, precious metals are also trading a touch lower. EUR and CHF are the best performing major currencies while NZD and JPY lag the most.

Economic calendar for the final trading day of the week is light. Traders will be offered final CPI data from Spain for April as well as preliminary University of Michigan data for May. A meeting between US President Biden and congressional leaders on debt limit, which was scheduled for today, was postponed until next week as details are still being worked out at staff-level.

8:00 am BST - Spain, CPI inflation for April (final). First release: 4.1% YoY

3:00 pm BST - US, University of Michigan consumer sentiment for May. Expected: 63.0. Previous: 63.5

Central bankers' speeches

• 8:00 am BST - Fed Bowman
• 9:00 am BST - ECB De Guindos
• 12:15 pm BST - BoE Pill
• 7:20 pm BST - Fed Daly