Key Global Events

Transition day today in anticipation of the two-day FED meeting starting tomorrow. A decision on the interest rate hike is scheduled for Wednesday, July 26. Currently the market is 99 % anticipating a 25 basis point increase, bringing the rate to 5.50 %.

On Thursday, the European Central Bank will also release its decision on the interest rate hike. Analysts also estimate a 25 basis point hike for the ECB, even after hawkish comments made by officials.

At the close of the week it will be the Japanese bank's turn to release its decision. For now, the country has continued with an ultra accommodative policy.

Elon Musk, over the weekend announced that the famous twitter logo will be replaced with an "X." 

Futures of major U.S. indexes trade higher, indicating a bullish opening for Wall Street. Dow Jones +0.12 %, S&P500 +0.20% and Nasdaq +0.29%.
European stock exchanges continue the session down, partly recovering their loss. Milan's FTSE MIB -0.11 %, Paris' CAC -0.52%, Madrid's IBEX -0.73%, London's FTSE -0.24%

Forex & Commodities

On the currency, the euro and the pound trade lower against the greenback. The euro trades around $1.1084 (-0.34%), the pound trades at $1.2830 -0.18%. Among commodities, oil turns upward and trades around $77.80 per barrel (+1%). Gold trades at 1967 dollars an ounce (+0.07%).

Index

Asian stock markets traded mixed after the release of Japan's PMI index, down to 49.4. Tokyo's benchmark Nikkei 225 index closes up at +1.17%. China's Hang Seng index closes trading at -2.25 %.

Global Macroeconomic Data
U.S. - At 3:45 p.m. will be released the tertiary purchasing managers index expected to decline to 54.