Economic calendar: German 2022 GDP, Q4 earnings from US banks

• European indices set for slightly higher opening

• German 2022 GDP reading due at 9:00 am GMT

• Earnings reports from JPMorgan, Citigroup and Wells Fargo among others

Futures markets point to a slightly higher opening of the European cash session today. Moods during the Asian session were upbeat with the majority of indices from Asia-Pacific region trading higher. Energy commodities trade little changed while precious metals pull back slightly. JPY and CHF are the best performing G10 currencies while NZD, EUR and USD lag the most.

Economic calendar for today looks interesting. Traders will be offered German 2022 GDP reading as well as flash UoM consumer sentiment index for January. On top of that, Q4 2022 Wall Street earnings season begins today with reports from major US banks like Citigroup, JPMorgan or Wells Fargo. Last but not least, investors will get to hear from 3 Fed members in the afternoon (Williams, Kashkari and Harker).

8:00 am GMT - Spain, CPI inflation for December. Expected: 5.8% YoY. Previous: 6.8% YoY

9:00 am GMT - Poland, CPI inflation for December (final). First release: 16.6% YoY

9:00 am GMT - Germany, Annual GDP for 2022. Expected: 1.8%. Previous: 2.6%

9:00 am GMT - Italy, industrial production for November. Expected: 0.2% MoM. Previous: -1.0% MoM

10:00 am GMT - Euro area, industrial production for November. Expected: 0.4% MoM. Previous: -2.0% MoM

3:00 pm GMT - US, University of Michigan consumer sentiment for January. Expected: 60.4. Previous: 59.7

Wall Street earnings reports

• Bank of America (BAC.US) - before market open

• BlackRock (BLK.US) - before market open

• Citigroup (C.US) - before market open

• Delta Air Lines (DAL.US) - before market open

• JPMorgan Chase (JPM.US) - before market open

• The Bank of New York Mellon (BK.US) - before market open

• Unitedhealth Group (UNH.US) - before market open

• Wells Fargo (WFC.US) - before market open

Central bankers' speeches

• 2:15 pm GMT - Fed Williams

• 3:00 pm GMT - Fed Kashkari

• 3:20 pm GMT - Fed Harker