- European indices open lower
- ECB expected to hold rates unchanged
- Second day of Powell's testimony in Congress
European indices launched today's trading lower, following a mixed trading during the Asia-Pacific session earlier today. JPY is the best performing G10 currencies after some hawkish comments from BoJ officials, with USDJPY testing 148.00 area. Gold holds at record highs above $2,150 per ounce.
Economic calendar for today, includes some noteworthy events. ECB is scheduled to announce rate decision at 1:15 pm GMT, but markets are expecting no change after a number of ECB members hinted recently that June may be their preferred timing for the first rate cut. Today is also the second day of semiannual testimonies from Fed Chair Powell in US Congress. Fed Chair will appear before Senate Banking Committee today. However, yesterday's appearance turned out to be largely a non-event with Powell reiterating that Fed lacks confidence to cut rates now.
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Create account Try a demo Download mobile app Download mobile appUS President Joe Biden is scheduled to deliver the annual State of the Union address this afternoon US time (Friday, 2:00 am GMT), with a lot of the attention in the speech is rumored to be on inflation. However, market impact from this event may be minimal as no major announcements are expected.
12:30 pm GMT - US, Challenger report for February
1:15 pm GMT - ECB rate decision
1:30 pm GMT - US, trade balance for January. Expected: -$63.3 billion. Previous: -$62.2 billion
1:30 pm GMT - Canada, trade balance for January. Expected: +C$0.1 billion. Previous: -C$0.31 billion
1:30 pm GMT - US, initial jobless claims. Expected: 215k. Previous: 215k
3:00 pm GMT - Fed Chair Powell testifies before Senate Banking Committee
3:30 pm GMT - EIA natural gas storage. Expected: -42 bcf. Previous: -96 bcf
Central bankers' speeches
- 1:45 pm GMT - ECB President Lagarde (post-meeting press conference)
- 4:30 pm GMT - Fed Mester
Top Wall Street earnings reports today
- Kroger (KR.US) - before market open
- Big Lots (BIG.US) - before market open
- Broadcom (AVGO.US) - after market close
- Costco Wholesale (COST.US) - after market close
- Marvell Technologies (MRVL.US) - after market close
