Economic calendar: German ZEW and API oil data

  • European markets expected to open flat

  • German ZEW index for June

  • API report expected to show decline in oil stocks

European futures markets point to a flat opening of today's cash session. FX trading was quite muted during the Asian trading hours and given the lack of top tier macro release today, the situation may continue during the European trade. Both ECB and Fed entered pre-meeting blackout periods therefore we won't hear from central bankers either. Nevertheless, some short-term swings on EUR during German ZEW release for June at 10:00 am BST may occur, as well as on oil during API data release in the evening.

10:00 am BST - Euro area, GDP for Q1 2021 (third, final release). Second release: -0.6% QoQ 

10:00 am BST - Germany, ZEW index for June. Expected: 86.0. Previous: 84.4

1:30 pm BST - US, trade balance for April. Expected: -$69.5 billion. Previous: -$74.4 billion

9:40 pm BST - API report on oil inventories. Expected: -3.6 million barrel

Daily summary: Wall Street lags behind European bourses
Canaccord Genuity cuts Tesla price target
EUR/USD starts to show signs of recovery
Chart of the day - OIL.WTI (14.06.2021)
Economic calendar: Second tier data from Europe and Canada
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