Economic calendar: German IFO index, Zoom earnings

• European markets set to open higher

• German IFO index tops the calendar

• Earnings report from Zoom Video Communications

Index futures from Europe and the United States trade higher ahead of the European cash session open. No major groundbreaking news surfaced over the weekend. However, the monkeypox story is one to watch with Belgium imposing a 3-week compulsory quarantine to high-risk contacts and the United Kingdom advising to self-isolate. Nevertheless, the risk of strict restrictions, similar to those imposed after Covid surfaced, is small as monkeypox is not a new disease and there are treatments for it already.

Economic calendar for today is light with the German Ifo index for May being the top reading scheduled. Nevertheless, survey data from Germany rarely has a big impact on market prices. More interesting readings will be released in the later part of the week, like for example RBNZ rate decision or FOMC minutes.

9:00 am BST - Germany, Ifo business climate index for May. Expected: 91.4. Previous: 91.8

9:00 am BST - Poland, retail sales for April. Expected: 30.6% YoY. Previous: 22.0% YoY

Central bankers' speeches

• 5:00 pm BST - Fed Bostic

Wall Street earnings releases

• Advance Auto Parts (AAP.US) - after market close

• Zoom Video Communications (ZM.US) - after market close