• European stock markets set to open lower
• Flash PMIs from Europe and the United States
• Retail sales data from Canada

Futures markets point to a lower opening of the European cash session today, following downbeat trading on Wall Street yesterday and in Asia today. EUR is one of the best performing major currencies, thanks to increasingly hawkish ECB speakers. Elsewhere, oil is taking a hit, dropping over 1%.

When it comes to the economic calendar for today, investors will be offered an update on the moods in major European economies as well as the US economy. Flash PMI indices for April will be released throughout the day with French reading at 8:15 am BST and German reading at 8:30 am being top European releases of the day. Apart from that, investors will be also offered retail sales data from Poland and Canada. Last but not least, among today’s earnings reporters one can find such companies like American Express or Verizon Communications.

8:15 am BST – France, flash PMIs for April.

• Manufacturing. Expected: 53.1. Previous: 54.7
• Services. Expected: 56.5. Previous: 57.4

8:30 am BST – Germany, flash PMIs for April.

• Manufacturing. Expected: 54.5. Previous: 56.9
• Services. Expected: 55.5. Previous: 56.1

9:00 am BST – Euro area, flash PMIs for April.

• Manufacturing. Expected: 54.7. Previous: 56.5
• Services. Expected: 55.0. Previous: 55.6

9:00 am BST – Poland, retail sales for March. Expected: 19.5% YoY. Previous: 16.5%

9:30 am BST – UK, flash PMI for April.

• Manufacturing. Expected: 53.9. Previous: 55.2
• Services. Expected: 60.3. Previous: 62.6

1:30 pm BST – Canada, retail sales for February. Expected: -0.2% MoM. Previous: 3.2% MoM

2:45 pm BST – US, flash PMIs for April.

• Manufacturing. Expected: 58.1. Previous: 58.8
• Services. Expected: 58.0. Previous: 58.0

Central bankers’ speeches

• 2:00 pm BST – ECB President Lagarde
• 3:30 pm BST – BoE Governor Bailey

Wall Street earnings releases

• American Express (AXP.US) – before market open
• Newmont Corporation (NEM.US) – before market open
• Schlumberger (SLB.US) – before market open
• Verizon Communications (VZ.US) – before market open