Economic calendar: DOE report and US housing market data

• Risk-off moods ahead of European open

• Improvement expected on the US housing market in October

• NVIDIA to report earnings after US session close

Risk-off moods can be spotted ahead of the European cash session open with safe haven currencies like CHF and JPY gaining and indices from the Old Continent expected to open lower. CPI reading from the euro area is the only noteworthy release scheduled for European morning. However, this will be a revision of data for October therefore markets may not experience any bigger reaction. US housing market data and DOE report will draw attention in the afternoon. Top US earnings releases scheduled for today are Target (before session open) and NVIDIA (after session close).

10:00 am GMT - Euro area, CPI inflation for October (final). First release: -0.3% YoY

1:30 pm GMT - US, housing market data for October.

• Building permits. Expected: 1560k. Previous: 1545k

• Housing starts. Expected: 1460k. Previous: 1415k

1:30 pm GMT - Canada, CPI inflation for October. Expected: 0.4% YoY. Previous: 0.5% YoY

3:30 pm GMT - DOE report on oil inventories.

• Oil inventories. Expected: +1.95 mb

• Distillate inventories. Expected: -1.35 mb

• Gasoline inventories. Expected: 0.45 mb

Central bankers' speeches

• 3:00 pm GMT - Fed Evans

• 5:15 pm GMT - Fed Williams

• 6:20 pm GMT - Fed Bullard

Noteworthy US earnings

• Target (TGT.US) - before market open

• NVIDIA (NVDA.US) - after market close