Economic calendar: EU summit and ECB meeting

European markets seen opening lower
EU summit on European budget and recovery fund
ECB set to add more stimulus

Indices from the Old Continent are seen opening lower on Thursday following a heavy tech sell-off on Wall Street yesterday. The day is looking interesting for European markets thanks to two big events - EU summit on budget and ECB meeting. Poland, Hungary and Germany reportedly reached a compromise on the EU budget yesterday but nothing should be taken for granted as there are some member states that are sceptical towards the compromise on rule-of-law mechanism. When it comes to the ECB, rates are likely to be left unchanged but more stimulus is expected to be added.

12:45 pm GMT - ECB rate decision.

1:30 pm GMT - US, jobless claims. Expected: 725k. Previous: 712k

1:30 pm GMT - US, CPI inflation for November.

Headline. Expected: 1.1% YoY. Previous: 1.2% YoY
Core. Expected: 1.6% YoY. Previous: 1.6% YoY

1:30 pm GMT - ECB post-meeting press conference

3:30 pm GMT - EIA natural gas storage change. Expected: -85 bcf. Previous: -9 bcf

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