Economic calendar: Euro area GDP, US PPI inflation

• European stock markets set to open lower

• PPI inflation data from US

• GDP report from Poland and euro area

Futures markets point to a lower opening of the European cash trading session today. Concerns over potential conflict in Ukraine continue to weigh on the sentiment. Newsflow during the Asian session was light and so it has been during the European morning. Economic calendar for today lacks top tier releases but some of those scheduled may trigger some moves. Investors will be offered GDP reports from Poland and euro area, German Zew, US PPI inflation and API report. Traders should keep track of incoming news as headlines are most likely to serve as triggers for bigger and more rapid moves.

9:00 am GMT - Poland, GDP report for Q4 2021. Expected: 7.1% YoY. Previous: 5.3% YoY

10:00 am GMT - Euro area, GDP report for Q4 2021. Expected: 0.3% QoQ. Previous: 2.2% QoQ

10:00 am GMT - Germany, ZEW economic sentiment index for February. Expected: 55.0. Previous: 51.7

1:15 pm GMT - Canada, housing start for January. Expected: 250k. Previous: 236.1k

1:30 pm GMT - US, New York Empire index for February. Expected: 12.1. Previous: -0.7

1:30 pm GMT - US, PPI inflation for January.

• Headline. Expected: 9.1% YoY. Previous: 9.7% YoY

• Core. Expected: 7.9% YoY. Previous: 8.3% YoY

9:40 pm GMT - API report on oil inventories. Expected: -1.7 mb

Wall Street earnings

• Airbnb (ABNB.US) - after market close

• Devon Energy (DVN.US) - after market close