LONDON — European stocks are expected to open in positive territory on Monday as global markets look out for key U.S. inflation data this week and more comment from U.S. Federal Reserve Chairman Jerome Powell on interest rate hikes.

The U.K. FTSEIndex opens 16 points higher than its previous 7,490 mark, Germany’s DAX 12 points higher at 15,946, France’s CAC 40 up 16 points higher at 7,223 and Italy’s FTSE MIBData from IG shows 26 points more at 27,463,

This week is busy for the global market with U.S. inflation data being a major data point. Tuesday’s release of the U.S. consumer price and Thursday’s release of the U.S. producers price index are scheduled.

Recent months have witnessed a spike in consumer prices both in Europe and America. Last Friday, inflation in the euro zone hit a new record high in December coming in at 5% compared with the same month last year.

In addition, investors will be looking out for more comments on the timing of forthcoming interest rate rises from Powell, as the Fed chair is scheduled to testify Tuesday at his nomination hearing before a Senate panel.

Fed signaled that it may reduce its easy monetary policies more aggressively than many expected. Last Wednesday’s minutes from the Fed’s December meeting showed the central banking is planning to decrease its balance sheet, in addition to raising rates.

Security talks will continue to be closely watched by markets. The talks between U.S.-Russian diplomats at Geneva Monday were intended to de-escalate tensions about Ukraine.

The euro zone publishes its November unemployment data, while the Netherlands and Italy release their November manufacturing output data.