Economic calendar: BoE rate decision, earnings from US mega-techs

• European indices set for lower opening
• Bank of England to announce rate decision at 12:00 pm GMT
• Amazon, Apple and Meta Platforms to report earnings after Wall Street close

European index futures point to a lower opening of the cash session on the Old Continent today. This comes after FOMC left interest rates unchanged at a meeting yesterday, with Fed Chair Powell hinting that March rate cut is not the base case scenario during the post-meeting press conference. USD caught a bid and remains the best performing G10 currency today, with EURUSD dropping below 1.08 mark.

Economic calendar for today includes some noteworthy releases. European morning session will be dominated by manufacturing PMI revisions, but traders will also be offered rate decision from Riksbank and flash CPI release from euro area. Bank of England decision and US challenger report will draw attention in the early afternoon, while ISM manufacturing print may offer some USD-volatility after the opening of the Wall Street session. Speaking of Wall Street, investors will be offered reports from 3 top-tier US tech companies today after market close - Apple, Amazon and Meta Platforms.

8:30 am GMT - Riksbank rate decision

8:00 am GMT - Poland, manufacturing PMI for January. Expected: 48.2. Previous: 47.4

8:15 am GMT - Spain, manufacturing PMI for January. Expected: 48.0. Previous: 46.1

8:45 am GMT - Italy, manufacturing PMI for January. Expected: 47.3. Previous: 45.3

8:50 am GMT - France, manufacturing PMI for January (final). First release: 43.2

8:55 am GMT - Germany, manufacturing PMI for January (final). First release: 45.4

9:00 am GMT - Euro area, manufacturing PMI for January (final). First release: 46.6

10:00 am GMT - Euro area, CPI inflation for January. 

• Headline. Expected: 2.7% YoY. Previous: 2.9% YoY
• Core. Expected: 3.2% YoY. Previous: 3.4% YoY

12:00 pm GMT - Bank of England rate decision

12:30 pm GMT - US, Challenger report for January

1:30 pm GMT - US, initial jobless claims. Expected: 212k. Previous: 214k

2:45 pm GMT - US, manufacturing PMI for January (final). First release: 50.3

3:00 pm GMT - US, manufacturing ISM for January. Expected: 47.0. Previous: 47.4

3:00 pm GMT - US, construction spending for December. Expected: +0.5% MoM. Previous: +0.4% MoM

3:30 pm GMT - EIA report on US natural gas inventories. Expected: -202 bcf

Central bankers' speeches

• 9:15 am GMT - ECB Centeno
• 11:30 am GMT - ECB Lane

Top Wall Street earnings scheduled for today

• Merck (MRK.US) - before market open
• Apple (AAPL.US) - after market close
• Amazon (AMZN.US) - after market close
• Meta Platforms (META.US) - after market close