Economic calendar: EUR traders wait for ECB minutes and European CPI

• DAX futures point to slightly lower opening of European session

• EUR traders look forward to CPI data and ECB minutes

• Speeches from ECB, Fed and BoE members

Risk-off moods could be spotted on the global markets during the Asian session with risky assets like oil, cryptocurrencies or equities pulling back. This comes after a downbeat US session that saw S&P 500 and Nasdaq drop, while US 10-year yield climbed above 4% for the first time since November 2022. DAX futures are currently trading a touch below yesterday's cash close.

European assets will be on watch today, thanks to 2 important macro events. The first one is the release of flash CPI figures for February from the euro area at 10:00 am GMT. German CPI print released yesterday surprised to the upside and traders will look whether it translates into upside surprise in data for the whole EMU. The second one is release of ECB minutes. However, as this will be a recap of discussions from 3 weeks ago, views included may be somewhat outdated. Apart from those two, traders will also be offered weekly report on US natural gas inventories as well as jobless claims. Last but not least, there are some ECB, Fed and BoE members set to speak and those speeches may trigger some additional volatility on the FX market.

9:00 am GMT - Italy, unemployment rate for January. Expected: 7.8%. Previous: 7.8%

10:00 am GMT - Euro area, unemployment rate for January. Expected: 6.6%. Previous: 6.6%

10:00 am GMT - Euro area, CPI inflation for February. Expected: 8.3% YoY. Previous: 8.6% YoY

10:00 am GMT - Italy, CPI inflation for February. Expected: 8.9% YoY. Previous: 10.0% YoY

12:30 pm GMT - ECB minutes

1:30 pm GMT - US, jobless claims. Expected: 195k. Previous: 192k

3:30 pm GMT - EIA report on natural gas storage. Expected: -72 bcf. Previous: -71 bcf

Central bankers' speeches

• 8:30 am GMT - ECB President Lagarde

• 12:30 pm GMT - ECB Schnabel

• 1:00 pm GMT - BoE Tenreyro

• 3:00 pm GMT - BoE Pill

• 7:00 pm GMT - Fed Waller

• 11:00 pm GMT - Fed Kashkari