Danske Bank analysts point out that in Brussels, EU leaders will resume their quest to fill the European top posts after they failed to do so at a marathon summit stretching from Sunday to Monday.

“Discussion continues to centre on the Dutch Socialist lead candidate Frans Timmermans for the Commission Presidency. In the US, we have two interesting Fed speakers: Williams (voter, neutral) and Mester (voter, hawkish). It will be interesting to hear their take on the trade standoff between the US and China and if there are any hints about the July rate decision. Overnight, we get service PMIs in Japan and China. For both countries, it should give us more information about how the domestically oriented part of the economy is doing (although in the case of China the service PMI is quite volatile). Like in Europe, the services sector has been more robust than the manufacturing sector.”