Economic calendar: US housing market data, DOE report

• European markets set to open higher

• US housing market data, DOE report

• Fed Chair Powell and BoE Governor Bailey to speak today

Futures markets point to a higher opening of the European cash session today for blue chips indices from the Old Continent. Markets started to look past the Russia-Ukraine war as intensity of fighting reportedly eased in previous days. Interestingly, tech shares were top performers on Wall Street yesterday, signaling that the market may be looking past looming Fed's tightening as well.

When it comes to the economic calendar for the day ahead, there are no major releases scheduled. Traders will be offered second-tier US housing market data and DOE report on oil inventories. Fed and BoE chiefs will take part in a panel discussion on emerging challenges for central banks in the digital world. However, due to the topic, the event is unlikely to trigger a volatility jump on USD or GBP.

9:00 am GMT - Poland, unemployment rate for February. Expected: 5.5%. Previous: 5.5%

2:00 pm GMT - US, new home sales for February. Expected: 810k. Previous: 801k

2:30 pm GMT - DOE report on oil inventories.

• Oil inventories. Expected: +0.1 mb (API: -4.28 mb)

• Gasoline inventories. Expected: -2.0 mb (API: -0.63 mb)

• Distillate inventories. Expected: -1.6 mb (API: -0.83 mb)

Central bankers' speeches

• 12:00 pm GMT - Fed Chairman Powell and BoE Governor Bailey

• 3:45 pm GMT - Fed Daly

• 7:00 pm GMT - Fed Bullard