What are the main events for today?

EUROPEAN SESSION In the European session, we don't have much on the agenda other than a couple of low tier releases like the French final CPI report and the second estimate of Eurozone Q1 GDP. The data isn't going to change anything for the ECB, so the market reaction will likely be muted. AMERICAN SESSION In the American session, the main highlights are the US PPI report and Trump-Xi meeting. The PPI Y/Y is expected at 4.8% vs 4.0% prior, while the Core PPI Y/Y is seen at 4.3% vs 3.8% prior. The US CPI report yesterday came out slightly higher than expected but didn't change much in terms of expectations. Unless the PPI shows significant deviation from the expected numbers, it's unlikely to trigger big moves. The focus will likely be on Trump-Xi meeting, although I don't see how this is going to change anything. The most important topic is going to be Iran as China has positioned itself as an unofficial mediator. Trump may seek Xi’s leverage to secure a deal that ends the conflict and reopens the Strait of Hormuz, although Trump has publicly downplayed the need for Chinese help yesterday. The two leaders are expected to meet at 14:00 GMT/10:00 ET. CENTRAL BANK SPEAKERS 15:30 GMT/11:30 ET - Fed's Collins (neutral - non voter) 17:00 GMT/13:00 ET - BoE's Mann (hawkish - voter) 17:15 GMT/13:15 ET - Fed's Kashkari (hawkish - voter) 19:00 GMT/15:00 ET - ECB's Lane (neutral - voter) 19:15 GMT/15:15 ET - ECB President Lagarde (neutral - voter) This article was written by Giuseppe Dellamotta at investinglive.com.