Economic calendar: GDP and CPI data from Europe, US PCE inflation

7:46 AM 28 April 2023
  • European indices set to open higher

  • GDP and CPI data from Europe

  • US PCE inflation for March to be released at 1:30 pm BST

Futures markets point to a higher opening of today's cash trading session on the Old Continent. This comes after a stellar Wall Street session yesterday and an upbeat trading in Asia earlier today. JPY is the worst performing G10 currency after the Bank of Japan decided to keep rates and YCC unchanged. 

Economic calendar for the day ahead is packed with GDP and inflation releases. Investors will be offered GDP reports from Spain, Italy and Germany. French reading was already released and it matched expectations (0.2% QoQ). Moreover, Spanish and German inflation figures will also be watched closely by EUR traders. Last but not least, traders will be offered PCE data from the United States for March.

Apart from that, Fed is expected to release the SVB review at 4:00 pm BST. However, the market impact of this release is likely to be minimal if any.

8:00 am BST - Spain, GDP report for Q1 2023. Expected: 0.3% QoQ. Previous: 0.2% QoQ

8:00 am BST - Spain, CPI inflation for April. Expected: 4.4% YoY. Previous: 3.3% YoY

8:55 am BST - German, unemployment rate for April. Expected: 5.6%. Previous: 5.6%

9:00 am BST - Italy, GDP report for Q1 2023. Expected: 0.2% QoQ. Previous: -0.1% QoQ

9:00 am BST - Germany, GDP report for Q1 2023. Expected: 0.2% QoQ. Previous: -0.4% QoQ

10:00 am BST - Euro area, GDP report for Q1 2023. Expected: 0.2% QoQ. Previous: 0.0% QoQ

1:00 pm BST - Germany, CPI inflation for April. Expected: 7.3% YoY. Previous: 7.4% YoY

1:30 pm BST - US, data pack for March.

  • Core PCE. Expected: 4.5% YoY. Previous: 4.6% YoY

  • Personal Income. Expected: 0.2% MoM. Previous: 0.3% MoM

  • Personal Spending. Expected: -0.1% Mom. Previous: 0.2% MoM

1:30 pm BST - Canada, monthly GDP report for February. Expected: 0.2% MoM. Previous: 0.5% MoM

2:45 pm BST - US, Chicago PMI for April. Expected: 43.5. Previous: 43.8

3:00 pm BST - US, University of Michigan consumer sentiment for April (final). First release: 63.5

Central bankers' speeches

  • 8:10 am BST - ECB Villeroy

  • 9:00 am BST - SNB Chairman Jordan

  • 10:45 am BST - ECB President Lagarde

Top Wall Street earnings

  • Chevron (CVX.US) - before market open

  • ExxonMobil (XOM.US) - before market open

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