Today, markets will focus on the U.S. Supreme Court’s decision on tariffs, U.S. retail sales, and U.S. PPI inflation data. Investors are also awaiting earnings from major U.S. banks (Wells Fargo, Citibank, Bank of America) as well as multiple speeches from Federal Reserve officials (Paulson, Kashkari, Bostic, Williams). The European macro calendar is very light today, meaning market attention is shifting almost entirely toward the afternoon U.S. releases. In addition, delegations from the U.S. administration are expected to meet with representatives of the Greenlandic authorities today.
Economic calendar
12:30 PM GMT – U.S. Retail Sales (December)
-
Expected: +0.5% m/m vs 0.0% previously
-
Core expected: +0.4% m/m vs +0.4% previously
12:30 PM GMT – U.S. PPI Inflation (December)
-
Expected: 2.7% y/y vs 2.7% previously
-
Expected: +0.2% m/m vs +0.3% previously
Core PPI
-
Expected: 2.7% y/y vs 2.6% previously
-
Expected: +0.2% m/m vs +0.1% previously
14:00 PM GMT – U.S. Home Sales
-
Expected: 4.22M vs 4.12M previously
-
(+2.18% m/m vs +0.5% previously)
14:00 PM GMT – U.S. Business Inventories
-
Expected: +0.1% vs +0.2% previously
14:30 PM GMT – U.S. Crude Oil Inventories (change)
-
Expected: -1.68M bbl vs -3.8M bbl previously
14:30 PM GMT – U.S. Natural Gas Inventories (change)
-
Expected: +2 bcf vs +7.7 bcf previously
U.S. Supreme Court decision on tariffs – expected around 14:00 GMT
Company earnings (pre-market)
-
Citigroup
-
Bank of America
-
Wells Fargo
Central bank speakers
- 1:50 PM GMT – Fed Paulson
- 2 PM GMT – Fed Bostic & Kashkari
- 4:10 PM GMT – Fed Williams
Strong Service ISM Reading as activity expanded most since 2022
BREAKING: Stronger than expected ADP fails to support the dollar 🇺🇸
Economic calendar: ADP Labor market report and ISM services 🔎
Morning wrap (04.03.2026)