Economic calendar: FOMC minutes, German IFO

• European indices set for flat opening of the cash session

• FOMC minutes due at 7:00 pm GMT

• German IFO data for February, Nvidia earnings

European stock market indices are set to open little change compared to yesterday's cash session closing levels. This comes after a downbeat US session yesterday and in Asia today. Nevertheless, moods look to have calmed down a bit as we head into a new trading day. Risky assets, like commodities or cryptocurrencies, are pulling back while precious metals trade a touch higher. NZD is G10 top performer following RBNZ rate hike while AUD lags the most after disappointing Q4 data.

Economic calendar for the day ahead is light but includes some interesting releases. FOMC minutes release is a key macro event of the day. Powell has been rather hawkish at its latest meeting and investors are eager to see details of discussion. Apart from that, traders will also be offered German IFO indices for February and API print on US oil inventories. RBNZ Governor Orr is set to speak in the evening while Nvidia is scheduled to report earnings after Wall Street close

9:00 am GMT - Germany, IFO index for February. Expected: 91.2. Previous: 90.2

9:00 am GMT - Italy, CPI inflation for January. Expected: 10.1% YoY. Previous: 11.6% YoY

7:00 pm GMT - FOMC minutes

9:40 pm GMT - API report on US oil inventories. Expected: +1.1 mb. Previous: +10.51 mb

Central bankers' speeches

• 7:10 pm GMT - RBNZ Governor Orr

• 10:30 pm GMT - Fed Williams

Top Wall Street earnings reports

• Baidu (BIDU.US) - before market open

• TJX (TJX.US) - before market open

• NVIDIA (NVDA.US) - after market close

• Lucid Group (LCID.US) - after market close

• Etsy (ETSY.US) - after market close