Economic calendar: Fed speakers, US bank earnings

• European markets set to open higher

• 6 Fed members to deliver speeches

• Wells Fargo, Citigroup and Morgan Stanley to report earnings today 

European markets are set to open higher today, following upbeat sessions on Wall Street and in Asia. FOMC minutes failed to trigger any major moves as markets were already expecting tapering to be announced this year. Commodity currencies like AUD, CAD and NZD are leading on the FX market while JPY and USD lag the most.

There are no top-tier releases scheduled for today but investors will still find something to focus on. Namely, a range of Fed members will deliver speeches today. Hints on when tapering should start would be welcome but it should be noted that it is unlikely that we will see wild price moves. Oil may become somewhat more volatile in the afternoon when the DOE report is released. 

8:00 am BST - Spain, CPI inflation for September (final). First release: 4.0% YoY

1:30 pm BST - US, PPI inflation for September.

• Headline. Expected: 8.7% YoY. Previous: 8.3% YoY

• Core. Expected: 7.1% YoY. Previous: 6.7% YoY

1:30 pm BST - US, jobless claims. Expected: 330k. Previous: 326k

3:30 pm BST - EIA natural gas storage. Expected: 115 bcf. Previous: 118 bcf

4:00 pm BST - DOE report on oil inventories.

• Oil inventories. Expected: -0.7 mb

• Gasoline inventories. Expected: -0.1 mb

• Distillate inventories. Expected: -0.9 mb

Central bankers' speeches

• 1:30 pm BST - Fed Bullard

• 2:00 pm BST - Fed Bostic

• 6:00 pm BST - Fed Williams

• 6:00 pm BST - Fed Daly

• 6:00 pm BST - Fed Barkin

• 11:00 pm BST - Fed Harker

Wall Street earnings

• Wells Fargo (WFC.US) - before market open

• Morgan Stanley (MS.US) - before market open

• Citigroup (C.US) - before market open

• Bank of America (BAC.US) - before market open

• Walgreens Boots Alliance (WBA.US) - before market open