Economic calendar: Netflix earnings, CPI data from Canada

• Futures point to a slightly higher opening of European cash session

• Earnings reports from Netflix, Lockheed Martin and Johnson & Johnson

• Canadian CPI seen decelerating in March

Futures market point to a slightly higher opening of the European cash session today with Euro Stoxx futures trading around 0.2% higher at press time. This comes after an upbeat trading on Wall Street yesterday and a rather downbeat Asian session earlier today after better-than-expected Q1 GDP data from China failed to lift market moods. GBPUSD climbed back above the 1.24 mark following the release of jobs report that showed higher-than-expected wage growth in February.

Investors will be offered some economic reports throughout the day. While most of those will be second-tier releases that rarely move the markets, some releases - like for example Canadian CPI data or API estimate on US oil inventories - may trigger some short-term volatility. FX volatility may also arise during speeches of central bankers. Last but not least, among today's top earnings releases one can find Netflix, Lockheed Martin, Johnson & Johnson and Goldman Sachs

9:00 am BST - Italy, trade balance for February. Expected: -€3.2 billion. Previous: -€4.19 billion

10:00 am BST - Euro area, trade balance for February. Expected: -€8.5 billion. Previous: -€11.3 billion

10:00 am BST - Germany, ZEW economic sentiment index for April. Expected: 15.0. Previous: 13.0

1:30 pm BST - US, housing market data for March.

• Building permits. Expected: 1450k. Previous: 1550k

• Housing starts. Expected: 1400k. Previous: 1450k

1:30 pm BST - Canada, CPI inflation for March. Expected: 4.3% YoY. Previous: 5.2% YoY

9:40 pm BST - API report on US oil inventories. Expected: -0.6 mb. Previous: +0.38 mb

Central bankers' speeches

• 9:30 am BST - ECB Centeno

• 4:00 pm BST - BoC Governor Macklem & BoC member ROgers

• 6:00 pm BST - Fed Bowman

• 7:00 pm BST - BoE Breeden

Top Wall Street earnings reports

• Bank of America (BAC.US) - before market open

• Johnson & Johnson (JNJ.US) - before market open

• Bank of New York Mellon (BK.US) - before market open

• Goldman Sachs (GS.US) - before market open

• Lockheed Martin (LMT.US) - before market open

• Netflix (NFLX.US) - after market close