European traders awake to the red glowing of their monitors

Futures of major European indices point to declines against their closing rates on Friday. The main reason for this is of course are the trade misunderstandings between the US and China. China has refused the planned trade talks with the United States, which were scheduled for later this week, and this has put traders into worry.

The US-China trade war remains the focus of attention Monday, with tariffs on both sides coming into force soon. Washington has announced a 10% tax on Chinese imports of $ 200 billion, which has led Beijing to pay $ 60 billion in US goods. On Friday, the Wall Street Journal reported that China withdrew its planned trade talks with the US following a new round of debts.

Today, the focus of the traders will be Germany's Business Climate Report in the country, which will show how favorable the environment is in the world's fourth-largest economy. At 11:30, the Central Bank of England will publish its report on economic stability, with investors looking for signals about the impact of Brexit's approach to the business climate in the country. At 16:00 maybe the most important event of the day - ECB President Mario Draghi's statement will be a matter of caution, as it is possible to talk about the quantitative easing program and eventual date for its cessation.

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