Economic calendar: Virus concerns to overshadow data releases

• Coronavirus concerns exert pressure on stocks

• Revised US GDP data for Q4 2019

• A lot of ECB speakers scheduled to speak

Markets are in risk-off after over 25 countries reported new coronavirus cases yesterday and the United States confirmed the first case of unknown origin overnight. DAX futures point to over 2% bearish gap at cash session open and today’s trading is likely to be focused on virus-related news. US coronavirus task force will meet at 7:30 pm GMT and some news on coming actions may surface afterwards. US GDP report should not have much of an impact on the market as it will be the revision. Euro may move throughout the day as numerous ECB members are scheduled to speak

8:00 am GMT - Spain, CPI inflation for February (flash). Expected: 0.8% YoY. Previous: 1.1% YoY

8:30 am GMT - Sweden, retail sales for January. Expected: 2.4% YoY. Previous: 3.4% YoY

1:30 pm GMT - US, GDP report for Q4 2019 (revision). The United States will release a revised GDP report today. While the headline growth is unlikely to deviate much from the previous reading, the report will contain more actual data and less estimates, providing a better picture of the US economy.

1:30 pm GMT - US, durable goods order for January (flash). Expected: -1.5% MoM. Previous: 2.4% MoM

3:00 pm GMT - US, pending home sales for January. Expected: 3% YoY. Previous: -4.9% YoY

Asian session

11:50 pm GMT - Japan, industrial production and retail sales for January.

Central bankers

• 9:30 am GMT - ECB’s Panetta

• 9:45 am GMT - ECB President Lagarde

• 10:05 am GMT - ECB’s Schnabel

• 10:30 am GMT - BoE’s Cunliffe

• 12:15 pm GMT - ECB’s Lane

• 4:00 pm GMT - ECB’s Guindos

• 4:30 pm GMT - Fed’s Evans

• 7:30 pm GMT - ECB’s Lane

• 8:30 pm GMT - Fed’s Mester