Economic calendar: US inflation and BoC decision

• European markets seen opening lower

• US House votes on $1.9 trill stimulus

• US CPI data, BoC decision

Futures markets point to a lower opening of the European cash session today. Economic calendar for the European morning is empty but things get more interesting in the afternoon. US CPI data at 1:30 pm GMT will show whether inflation concerns have backing. Bank of Canada is expected to hold rates unchanged when it announces its decision at 3:00 pm GMT. Oil traders will watch DOE report closely after API data showed a massive 12.8 million barrel build yesterday.

Last but not least, US House of Representatives will vote on Biden's $1.9 trillion stimulus deal today. Debates will start at 2:00 pm GMT and after around 2 hours vote is expected to be held. House will most likely pass the bill and it will be sent to President Biden for signing. Biden has said recently that $1,400 stimulus checks will be sent within two weeks after the stimulus is signed into law.

1:30 pm GMT - US, CPI inflation for February.

• Headline. Expected: 1.7% YoY. Previous: 1.4% YoY

• Core. Expected: 1.4% YoY. Previous: 1.4% YoY

2:00 pm GMT - US House starts debate on $1.9 trillion stimulus deal

3:00 pm GMT - Bank of Canada rate decision.

3:30 pm GMT - DOE report on oil inventories. 

• Oil inventories. Expected: -0.8 mb

• Gasoline inventories. Expected: -4.2 mb

• Distillate inventories. Expected: -3.65 mb