European stock markets set to open lower
OPEC+ expected to confirm targets for July and August
Riksbank rate decision, US PCE inflation for May
European index futures are pointing to a lower opening of the cash session on the Old Continent today. DAX futures currently trade over 200 points below yesterday's cash close. Oil is trading flat on the day even after media reports hinted that Saudi Arabia is set to increase prices for Asian deliveries to near record levels. EUR is leading among G10 currencies.
Economic calendar for today includes some interesting events. Riksbank will announce the decision in the morning and is expected to deliver a 50 basis point rate hike. USD may move after the release of US data in the early afternoon. OPEC+ is meeting today to discuss oil policy. However, the goal of the meeting is to confirm already announced production targets set for July and August, and targets for September are not on the agenda.
8:30 am BST - Riksbank rate decision
8:55 am BST - Germany, unemployment rate for June. Expected: 5.0%. Previous: 5.0%
12:00 pm BST - OPEC+ meeting
1:30 pm BST - US, data pack for May.
PCE Core. Expected: 4.8% YoY. Previous: 4.9% YoY
Personal spending. Expected: 0.4% MoM. Previous: 0.9% MoM
Personal income. Expected: 0.5% MoM. Previous: 0.4% MoM
1:30 pm BST - Canada, monthly GDP for April. Expected: 0.3% MoM. Previous: 0.7% MoM
1:30 pm BST - US, jobless claims. Expected: 226k. Previous: 229k
Central bankers' speeches
2:30 pm BST - ECB President Lagarde