07:37 · 17 May 2023

Economic calendar: speeches from ECB bankers in the spotlight

  • Major index futures in Europe indicate a slightly higher opening
  • HIgher-than-expected Q1 GDP readings in Japan
  • US housing data in the spotlight

Wednesday's stock market session in Europe is expected to extend mixed sentiments from the previous session. The dollar is slightly appreciating against major currencies, supported by positive US data, particularly in retail sales. Comments from Fed members yesterday emphasized the priority of fighting inflation.

The main index in Japan is rising on the back of positive GDP data. Japan's economy grew at its fastest pace in three quarters, with Q1 GDP growth at 1.6% on an annual basis, surpassing expectations of 0.7%. Goldman Sachs sees promising prospects for the Japanese market due to corporate reforms and easy monetary policy.

There are no significant macroeconomic events in today's calendar apart from US housing data. At 01:30 PM BST, we will receive data on housing permits and housing starts. Additionally, investors may seek hints about the ECB's future monetary policy in speeches by central bank members, scheduled for this morning.

 

Economic Calendar:

10:00 AM BST - EU, Harmonized Inflation in the Eurozone:

  • Expected: 7.0% YoY, Previous: 6.9% YoY

01:30 PM BST - US, Housing Market Data:

  • Permits: Expected: 1,435k, Previous: 1,413k
  • Starts: Expected: 1,400k, Previous: 1,420k
 

Central Bank Speeches:

  • 08:15 AM BST - ECB, De Guindos
  • 08:30 AM BST - ECB, Panetta
  • 09:00 AM BST - ECB, Centeno
  • 10:15 AM BST - UK, Bailey
  • 04:15 PM BST - ECB, De Guindos (again)
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