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European markets seen opening lower
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Euro area CPI expected to accelerate to 1% YoY
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Canadian GDP growth expected at 7.2% QoQ annualized in Q4
European futures markets point to a lower opening of today's cash session following a downbeat trading in Asia. Economic calendar for the day is light. Flash CPI release from the euro area is a key event in the morning and may result in elevated volatility on the EUR market. CAD will get a chance to move on Q4 GDP release from Canada (1:30 pm GMT) while oil traders will focus on oil inventory estimates from API.
Oil may also react more strongly to incoming news as OPEC+ meeting is scheduled for the later part of the week and there are some disagreements between Saudi Arabia and Russia.
10:00 am GMT - Euro area, CPI inflation for February (flash). Expected: 1% YoY. Previous: 0.9% YoY
1:30 pm GMT - Canada, GDP growth for Q4 2020 (annualized). Expected: 7.2% QoQ. Previous: 40.5% QoQ
9:40 pm GMT - API report on oil inventories. Expected: -1.85 mb
Central bankers' speeches
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1:40 pm GMT - ECB Panetta
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6:00 pm GMT - Fed Brainard
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7:00 pm GMT - Fed Daly
US earnings reports
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Kohl's (KSS.US) - before market open
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Ross Stores (ROST.US) - after market close
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Target (TGT.US) - before market open
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