Economic calendar: OPEC+ meeting and manufacturing ISM

• European markets expected to open higher

• Oil gains ahead OPEC+ meeting

• Manufacturing ISM and PMI revisions, jobless claims

Futures markets point to a higher opening of the European cash session today. Gold is holding firm above $1,700 as bond sell-off took a pause. Oil is trading higher ahead of today's key event - OPEC+ meeting. Oil producers will discuss the fate of the output cut agreement. Market expects that the group will decide to maintain output cuts as demand recovery remains uncertain amid the recent wave of new lockdowns and Covid-19 restrictions. Decision are likely to be announced in the afternoon.

Apart from OPEC+ decision, investors will also be served some survey data from Europe and the United States. While most releases will be revisions to March manufacturing PMI data, US manufacturing ISM release at 3:00 pm GMT may provide some additional volatility. Traders should also keep in mind that in many countries today is the final trading day ahead of Easter break therefore so rebalancing flows may be in play.

8:00 am BST - Poland, manufacturing PMI for March. Expected: 55.6. Previous: 53.4

8:15 am BST - Spain, manufacturing PMI for March. Expected: 55.9. Previous: 52.9

8:45 am BST - Italy, manufacturing PMI for March. Expected: 59.6. Previous: 56.9

8:50 am BST - France, manufacturing PMI for March (final). First release: 58.8

8:55 am BST - Germany, manufacturing PMI for March (final). First release: 66.6

9:00 am BST - Euro area, manufacturing PMI for March (final). First release: 62.4

9:30 am BST - UK, manufacturing PMI for March (final). First release: 57.9

1:30 pm BST - US, jobless claims. Expected: 680k

2:45 pm BST - US, manufacturing PMI for March (final). First release: 59.0

3:00 pm BST - US, manufacturing ISM for March. Expected: 61.3. Previous: 60.8

3:00 pm BST - US, construction spending for February. Expected: -1% MoM. Previous: 1.7% MoM

3:30 pm BST - EIA natural gas storage change. Expected: -25 bcf