Economic calendar: Biden call with EU leaders, Powell speaks at NABE

• European indices set to open slightly lower

• Powell delivers speech to National Association for Business Economics

• US, UK, Germany, Italy and France leaders to hold a call today

European index futures point to a slightly lower opening of the cash session on the Old Continent today. Oil is trading higher at the beginning of a new week on the back of media reports saying that the EU mulls a ban on Russian oil. Decisions may be made as soon as this week and measures would be implemented as part of the fifth sanction package on Russia.

Economic calendar for today is quite empty but there are two important events scheduled. US President Biden will host a call with leaders of France, Germany, Italy and UK today at 3:00 pm GMT to discuss the current situation in Europe. Apart from that, Fed Chair Powell will deliver an annual speech to the National Association for Business Economics (NABE).

9:00 am GMT - Poland, retail sales for February. Expected: 16.6% YoY. Previous: 20.0% YoY

3:00 pm GMT - US President Biden hosts call with leaders of France, Germany, Italy and the United Kingdom

4:00 pm GMT - Fed Chair Powell delivers speech to National Association for Business Economics

Central bankers' speeches

• 12:00 pm GMT - Fed Bostic