Economic calendar: US markets closed for holiday

• European markets expected to open lower

• US markets closed for holiday

• BoE Chairman speech

European stock markets are expected to launch today's session lower following mixed trading in Asia. Liquidity conditions throughout the day, and especially in the afternoon, may be thinner as US markets will be closed for holiday (Martin Luther King Day). There are no key, market-moving releases scheduled for today so traders should look out for headline news as potential volatility triggers. Because of the holiday, trading on the US  futures will finish at 6:00 pm GMT today. This includes US index futures, WTI as well as precious metals.

9:00 am GMT - Italy, CPI inflation for December. Expected: -0.1% YoY. Previous: -0.2% YoY

1:00 pm GMT - Poland, core CPI inflation for December. Expected: 3.7% YoY. Previous: 4.3% YoY

1:15 pm GMT - Canada, housing starts for December. Expected: 225k. Previous: 246k

Central bankers' speeches

• 1:30 pm GMT - BoE Chairman Bailey