Major European indices trade just below their flat lines.
STOXX Europe 600: -0.1%,
Germany’s DAX: -0.1%,
U.K.’s FTSE 100: -0.4%,
France’s CAC 40: -0.4%,
Italy’s FTSE MIB: UNCH,
Spain’s IBEX 35: -0.2%.
President Trump threatened to impose a 100% tariff on imports from the EU and the U.K. if they impose a digital services tax on U.S. companies.
Eurozone
European Central Bank President Lagarde will deliver the opening remarks from the ECB’s policy forum in Portugal, where Fed Chairman Warsh will appear on Wednesday.
May Private Sector Loans 3.1% yr/yr (expected 2.9%; last 3.0%) and loans to nonfinancials 4.0% yr/yr (last 3.4%).
June Business and Consumer Survey 95.0 (expected 94.3; last 93.7)
U.K.
Bank of England Chief Economist Pill said that the change in the Bank of England’s communication strategy from a single forecast to multiple scenarios has made it more difficult for policymakers to reach a collective viewpoint.
May Mortgage Approvals 56,210 (expected 63,000; last 66,030) and Mortgage Lending GBP2.89 bln (expected GBP4.60 bln; last GBP4.44 bln)
Spain
June CPI 0.6% m/m (last 0.1%); 3.2% yr/yr, as expected (last 3.2%).
June Core CPI 2.9% yr/yr (last 2.9%)