Economic calendar: Biden's speech, Canadian jobs report

• European indices set for a flat opening

• Biden to deliver a speech at 3:15 pm GMT

• Jobs report from Canada for February

Another volatile week on the markets is coming to an end. The Russia-Ukraine war is still not over and unfortunately there is no end to it in sight. While some risk-on trades could have been spotted on "optimistic" headlines this week, it's more of wishful thinking and jumping to too far reaching conclusions. Traders should keep on guard today as the past two Fridays saw risk reversals in the afternoon. As uncertainty remains about the outcome of the Russia-Ukraine war, one cannot rule out that investors will also want to reduce their exposure ahead of this weekend as well.

When it comes to today's calendar, it is quite empty. CAD traders will focus on the jobs report for February (1:30 pm GMT) while USD and US indices may get a chance to move when US President Biden delivers a speech (3:15 pm GMT). Biden is expected to call for an end of Russia's preferential trade status, a move that would pave the way for higher tariffs on Russian goods.

1:30 pm GMT - Canada, jobs market report for February.

• Employment change. Expected: +160k. Previous: -200.1k

• Unemployment rate. Expected: 6.2%. Previous: 6.5%

3:00 pm GMT - US, University of Michigan consumer sentiment for March. Expected: 61.5. Previous: 62.8

3:15 pm GMT - Biden's speech