Economic calendar: US retail sales data in focus

• European markets expect to open higher

• US retail sales data for February

• German ZEW seen at 73.9 in March

Futures market point to a higher opening of the European cash session as vaccine concerns seem to ease. US retail sales data for February at 12:30 pm GMT is a key macro release of the day. Decline is expected following a stellar reading in January boosted by stimulus checks. Recently agreed $1,400 stimulus checks will most likely be visible in March or April data. Apart from that, German ZEW index and US industrial production data may also provide some short-term volatility.

10:00 am GMT - Germany, ZEW index for March. Expected: 73.9. Previous: 71.2

12:30 pm GMT - US, retail sales for February.

• Headline. Expected: -0.5% MoM. Previous: +5.3% MoM

• Ex-autos. Expected: -0.1% MoM. Previous: +5.9% MoM

1:15 pm GMT - US, industrial production for February. Expected: 0.3% MoM. Previous: 0.9% MoM

8:40 pm GMT - API oil inventories report. Expected: +2.7 mb