European indices hold higher at the open today

• Eurostoxx +0.4%
• Germany DAX +0.6%
• France CAC 40 +0.4%
• UK FTSE +0.6%
• Spain IBEX +0.6%
• Italy FTSE MIB +0.5%

The make or break this week will be on the inflation data on Wednesday. While market players will be honed in on the US numbers, I want to say that one shouldn’t underestimate the potential for early shockwaves from the UK report as well. The estimate is for UK headline annual inflation to come in at 2.3% in July, up from 2.0% in June. That will mark the first jump in price pressures since December last year and could temper with the market mood as such.

This article was written by Justin Low at www.forexlive.com.