Economic calendar: FOMC minutes, Nvidia earnings

• European markets launched session higher

• FOMC minutes at 7:00 pm BST

• Nvidia to release earnings after session close

European stock markets launched today's trading higher, following an upbeat trading in Asia. German DAX (DE30) returned above 14,000 pts, FTSE 100 (UK100) is trading above 7,500 pts and French CAC 40 (FRA40) is approaching 6,300 pts.

A key point in today's economic calendar is release of FOMC minutes at 7:00 pm BST. Document will relate to the meeting when QT was announced and may offer some additional details. However, as Fed members have been very vocal about their outlook on policy recently, minutes release is rather unlikely to be a trigger for a major move or trend reversal. Heads of ECB and BoJ will deliver speeches in Davos today but neither one will be on monetary policy. Nvidia will release earnings report after close of the Wall Street session today.

German GDP report was released at 7:00 am BST. However, it was a revision of data for Q1 2022 and showed now changes from preliminary reading with growth remaining at 0.2% QoQ.

9:00 am BST - Poland, unemployment rate for April. Expected: 5.3%. Previous: 5.4%

1:30 pm BST - US, durable good orders for April.

• Headline. Expected: 0.5% MoM. Previous: 0.8% MoM

• Ex-transport. Expected: 0.5% MoM. Previous: 1.2% MoM

3:30 pm BST - DOE report on oil inventories.

• Oil inventories. Expected: -0.7 mb (API: +0.56 mb)

• Gasoline inventories. Expected: -0.6 mb (API: -4.23 mb)

• Distillate inventories. Expected: +0.9 mb (API: -0.95 mb)

7:00 pm BST - FOMC minutes

Central bankers' speeches

• 9:00 am BST - ECB President Lagarde

• 12:05 pm BST - BoJ Governor Kuroda

Wall Street earnings

• DXC Technology (DXC.US) - after market close

• Nvidia (NVDA.US) - after market close