European markets have opened mostly higher today. Traders await a raft of European economic releases and corporate earnings updates due later today.

Closer home, GfK reported that consumer confidence in the UK deteriorated in July while a Bank of England policymaker, Ben Broadbent, highlighted the possibility for an earlier-than-expected interest rate hike. Later today, Eurozone consumer price inflation and unemployment data along with German unemployment figures have the potential to sway market direction.

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