Danske Bank analysts point out that today the final euro area HICP figures for June will be released and will be a key release for markets.

“The German figures point to a slight upward revision in the euro area headline figure to 1.3% (from 1.2% in the flash estimate), but core inflation will likely stay at 1.1% in a sign that underlying inflation pressures remain subdued ahead of the ECB's July meeting taking place next week. In the UK, we also get inflation data for June. Market consensus is for headline inflation to remain steady around the BOE target of 2% while core inflation is expected to increase slightly from 1.7% in May.”