Economic calendar: US PPI inflation, University of Michigan data

• European indices set to open higher
• GBPUSD tested 1.26 area after strong UK retail sales data
• Second-tier US data and Fed speakers

European index futures point to a higher opening of the European cash session today. EuroStoxx futures trade around 0.5% higher today, while DAX futures trade around 0.4% above yesterday's cash close. AUD and USD are the best performing G10 currencies, while JPY and NZD lag the most. GBPUSD tested 1.2600 area after strong retail sales data from the United Kingdom. Cryptocurrencies gain, although Bitcoin pulled back slightly below $52,000 mark.

Economic calendar for today includes some noteworthy US releases - PPI inflation for January, housing market data for January and University of Michigan data for February. Aprt from those, USD may also move on speeches from Fed members - Barkin, Barr and Daly.

1:30 pm GMT - Canada, wholesale sales for December. Expected: 0.9% MoM. Previous: 0.9% MoM

1:30 pm GMT - US, PPI inflation for January.

• Headline. Expected: 0.6% YoY. Previous: 1.0% YoY
• Core. Expected: 1.6% YoY. Previous: 1.8% YoY

1:30 pm GMT - US, housing market data for January.

• Building permits. Expected: 1510k. Previous: 1493k
• Housing starts. Expected: 1460k. Previous: 1460k

3:00 pm GMT - US, University of Michigan data for February.

• Consumer Sentiment. Expected: 80.0. Previous: 79.0
• Current Conditions. Expected: 82.5. Previous: 81.9
• Expectations. Expected: 77.0. Previous: 77.1
• 1-year inflation expectations. Expected: 2.9%. Previous: 2.9%
• 5-year inflation expectations. Expected: 2.8%. Previous: 2.9%

Central bankers' speeches

• 8:45 am GMT - ECB Schnabel
• 1:00 pm GMT - Fed Barkin
• 2:10 pm GMT - Fed Barr
• 5:10 pm GMT - Fed Daly
• 7:40 pm GMT - BoE Pill