Economic calendar: Central banks and Wall Street earnings

• ECB and Norges expected to leave rates unchanged today

• Oil may overlook inventories data amid ongoing turmoil

• Intel, Procter & Gamble and Comcast among companies reporting earnings

9:00 am GMT - Poland, retail sales for December. Expected: 7.3% YoY. Previous: 5.9% YoY

9:00 am GMT - Norges Bank interest rate decision. Norges Bank is expected to leave the main interest rate unchanged at 1.5% today. This will be an interim meeting that will not be followed by a press conference therefore the Bank is unlikely to send any strong message. 

12:45 pm GMT - ECB interest rate decision. The European Central Bank is expected to leave monetary policy settings unchanged today. The attention will be focused on Lagarde presser at 1:30, where more details on planned policy review may be unveiled. Policy review is expected to be in two parts: one concerning inflation targeting and one concerning financial stability and climate change.

1:30 pm GMT - US, jobless claims. Expected: 215k. Previous: 204k

4:00 pm GMT - DOE report on oil inventories. API estimates released yesterday pointed to a 1.6 million barrel build in crude oil inventories. The reading added to pressure on the oil market that is sinking due to coronavirus concerns. DOE report is expected to show a minor increase in oil stockpiles and noticeable builds in distillate and gasoline inventories.

Central bankers’ speeches

• 5:30 pm GMT - Riksbank Governor Ingves

Major earnings releases

• American Airlines Group (AAL.US)

• Travelers (TRV.US)

• Procter & Gamble (PG.US)

• Comcast (CMCSA.US)

• Intel (INTC.US)