Asian equities were higher during the early session, supported by strong Wall Street earnings and hopes China’s government spending would boost growth but trade tensions remain in focus ahead of a meeting between the U.S. and European Commission presidents.
Today’s calendar looks quite busy, with the German Ifo business surveys dropping in at 0800 GMT alongside the Eurozone M3 money supply and private loans data for the month of June. From the UK docket, the high street lending data, BBA mortgage approvals and Confederation of British Industry (CBI) realized sales figures will be released later in the European session. In the North American session, the US new home sales and EIA crude oil stockpiles data will be reported. However, the main event risk for today remains the trade talks between the European Commission President Juncker and the US President Trump due later on Wednesday.