European markets head for higher open as traders focus on data, earnings

European markets are expected to open higher on Tuesday, with investors keeping an eye on data releases and earnings reports., while a finalized euro zone inflation reading for October is also due during the session.

According to the CME FedWatch Tool, trading in the fed funds futures market currently implies a 62.1% likelihood of a rate cut in December. That is down from 65.3% a week ago, and 76.8% a month ago. "It is going to call into question how much more they need to cut, and how quickly. I think that's what they've really been hinting at — that they're going to be patient, they're going to be data dependent, and that could mean a slower pace of rate cuts than either their forecasts have suggested or the market was expecting," Baird said.

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European markets set to open lower ahead of European growth data, more earningsEuropean markets are heading for a negative open Wednesday, as investors await the latest growth data from the region and another batch of earnings.
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