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Estoxx futures test session high

FOREX

FX OPTION EXPIRY (updated)

POLAND

CPI Inflation Rises By 5% In July

GERMAN DATA

German GDP Rebounded in Q2, But Lower Than Expected

ITALY DATA

Italian GDP Beats Expectations On Upside

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U.S. President Joe Biden doesn't have the confidence to raise the initiative of a summit with China's leader, and China doesn't believe such a summit is urgent, the Global Times reported citing Jin Canrong, associate dean of the School of International Studies at the Renmin University of China, responding to Biden's first foreign trip as the president. Biden planned to rally his allies against China but although the G7 and NATO communiqu├ęs showed a harsher stance, the changes did not reach the level the U.S. had wanted, the newspaper said citing Cui Hongjian, director of the Department of European Studies at the China Institute of International Studies. While Biden tried to create some discord for China-Russia relations in his talk with Putin, his approach, highlighting the struggling Russian economy as a reason to guard against a rising China, was extremely poor and ineffective, as it was the U.S. that created tough sanctions on Russia, the newspaper cited Jin as saying.