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7:17 AM · 28 January 2021

Economic calendar: US GDP data in the spotlight

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  • European markets seen opening lower

  • US GDP release for Q4 2020

  • 3 Dow Jones members report earnings

European stock markets are expected to open lower following sell-off on Wall Street and during the Asian session. Massive gains on US small-cap stocks resulting from activity of retail investors has spurred uncertainty in the global financial markets and even the dovish message delivered by the Federal Reserve yesterday did not ease investors' concerns. US GDP release for Q4 2020 is the main event of the day. Apart from that, traders will be served earnings reports from 3 Dow Jones members - Dow, McDonald's and Visa.

1:00 pm GMT - Germany, CPI inflation for January (flash). Expected: 0.7% YoY. Previous: -0.3% YoY

1:30 pm GMT - Canada, building permits for December. Expected: -5% MoM. Previous: 12.9% MoM

1:30 pm GMT - US, GDP report for Q4 2020.

  • GDP growth (annualized). Expected: 4%. Previous: 33.4%

  • Personal consumption (annualized). Expected: 3.1%. Previous: 41%

  • Core PCE. Expected: 1.2% QoQ. Previous: 3.4% QoQ

1:30 pm GMT - US, jobless claims data. Expected: 875k. Previous: 900k

3:00 pm GMT - US, new homes sales for December. Expected: 877k. Previous: 841k

Central bankers' speeches

  • 5:15 pm GMT - ECB Schnabel

US earnings reports

  • American Airlines (AAL.US) - before market open

  • Comcast (CMCSA.US) - before market open

  • Dow (DOW.US) - before market open

  • Mastercard (MA.US) - before market open

  • McDonald's (MCD.US) - before market open

  • Visa (V.US) - after market close

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