Economic calendar: ECB decision and US PPI inflation

• Futures point to a mixed opening to today's session in Europe
• The ECB decision and the PPI report from the US will be the most important readings of the day

Asian stocks came under pressure today, as worse-than-expected CPI data from the US implies a later start to the rate cut cycle. The wave of declines from Wall Street has thus spilled over to APAC markets as well. Futures contracts at this point point to a mixed opening of the session on the Old Continent (Western European regional index futures show slight gains).

Federal Reserve officials will speak on Thursday: Williams, Barkin, Collins, Bostic. The entire macro calendar, meanwhile, will focus on two readings. The first will be the ECB's interest rate decision, and the second will be the PPI inflation reading from the US.

The most important readings of the day:

01:15 pm BST, Eurozone - ECB interest rate decision. Expectations: 4,0%. Earlier: 4,0%

01:30 pm BST, US - PPI inflation report for March. Expectations: 2.2% y/y. Earlier: 1.6% y/y

01:30 pm BST, USA - PPI core inflation report for March. Expectations: 2.3% y/y. Earlier: 2.0% y/y

01:30 pm BST, USA - Jobless claims report. Expectations: 215 thousand Earlier: 221 thousand.

01:45 pm BST, Eurozone - Press conference with President Lagarde.

01:45 pm BST, USA - FED's Williams speech.

03:30 pm BST, USA - Natural gas inventory change report. Expectations: +14bn. Earlier: -37bn

05:00 pm BST, USA - FED's Collins speech

06:30 pm BST, USA - FED's Bostic speech.