Economic calendar: Does EU inflation surprise The Market? 🔎

• Index futures in Europe indicate a flat opening session
• Chinese PMI performed slightly better than expected
• Publication of inflation data in Europe later in the day

Today's session is shaping up to be without correction following strong gains on Wall Street and in Europe last Friday. CFD contracts on the German DAX broke historical records, surpassing 16,500 points, and today they are gaining an additional +0.03%.

Today, investors have already received PMI data from China, with PMI Manufacturing performing slightly better at 49.3 compared to expectations of 49.2 and the previous reading of 49 in June. PMI Non-Manufacturing performed slightly worse than expected but remained at a high level. The current reading is 51.5, expectations were at 52.9, and the previous figure was 53.2. Despite this, factory activity in China declined for the fourth consecutive month in July, albeit at a slower pace, reflecting lower global and domestic demand. The decline in economic activity in the construction sector continued to weaken the PMI Non-Manufacturing. Despite the government's efforts to increase consumer spending and support the economy, the scale of fiscal stimulus may prove to be insufficient.

Later today, investors will receive inflation data for the Eurozone, which is forecasted to be lower than the June readings, although the difference is small. HICP Headline is expected to decrease to 5.3% YoY, and HICP Core to 5.4% YoY.

Detailed schedule of the day:

9:00 am BST, Poland - CPI for July:

• Headline: Expectations: 10.9% YoY; Previously: 11.5% YoY

10:00 am BST, EU - GDP for Q2, s.a.:

• Expectations: 0.2% QoQ; Previously: -0.1% QoQ
• Expectations: 0.5% YoY; Previously: 1.0% YoY

10:00 am BST, EU - HICP inflation for July:

• Headline: Expectations: 5.3% YoY; Previously: 5.5% YoY
• Core: Expectations: 5.4% YoY; Previously: 5.5% YoY

2:45 pm BST, US - Chicago PMI Index for July:

• Previously: 41.5

3:30 pm BST, US - Dallas FED Index for July:

• Previously: -23.3