Economic calendar: CBRT rate decision, US Q4 GDP revision

• European indices set for slightly higher opening

• Revisions of European CPI data and US GDP data

• CBRT expected to cut rates by 50 bp

Futures markets point to a slightly higher opening of the European cash session today. This comes after a mixed trading in Asia earlier today and a mixed Wall Street trading yesterday. FOMC minutes release triggered a slight hawkish reaction on the markets (USD up, equities down) but it did not translate into any larger move.

Economic calendar for the day ahead includes some interesting releases. The Central Bank of the Republic of Turkey is set to announce its next rate decision at 11:00 am GMT today and expectations are for 50 basis point rate cut. European CPI data and US Q4 GDP report will be revisions but may still trigger some moves on EURUSD should they show significant deviations from preliminary values. EURUSD may also see some moves on speeches from ECB and Fed members today. Energy traders will tune in for data on US oil and natural gas inventories. Last but not least, Moderna, Booking Holdings and Beyond Meat can be found among today's earnings reporters.

10:00 am GMT - Euro area, CPI inflation for January (final). First release: 8.5% YoY

11:00 am GMT - CBRT rate decision

1:30 pm GMT - US, GDP report for Q4 (annualized, revision). First release: 2.9%

1:30 pm GMT - US, jobless claims. Expected: 199k. Previous: 194k

3:30 pm GMT - EIA natural gas storage. Expected: -60 bcf. Previous: -100 bcf

4:00 pm GMT - DOE report on US oil inventories.

• Oil inventories. Expected: +1.2 mb (API: +9.89 mb)

• Gasoline inventories. Expected: +1.5 mb (API: +0.89 mb)

• Distillate inventories. Expected: +0.4 mb (API: +1.37 mb)

Central bankers' speeches

• 9:30 am GMT - BoE Mann

• 10:45 am GMT - BoE Cunliffe

• 3:00 pm GMT - ECB De Cos

• 3:50 pm GMT - Fed Bostic

• 7:00 pm GMT - Fed Daly

Top Wall Street earnings reports

• Alibaba Group (BABA.US) - before market open

• Moderna (MRNA.US) - before market open

• Cheniere Energy (LNG.US) - before market open

• Domino's Pizza (DPZ.US) - before market open

• Nikola (NKLA.US) - before market open

• Booking Holdings (BKNG.US) - after market close

• Warner Bros Discovery (WBD.US) - after market close

• Wish (WISH.US) - after market close

• Beyond Meat (BYND.US) - after market close