-
ECB minutes and speeches from ECB President Lagarde
-
Earnings reports from Procter & Gamble and Netflix
-
Rate decisions from CBRT and Norges Bank
European stock markets indices launched slightly lower, following a downbeat US session yesterday and a mixed Asian session today. EUR and JPY are the best performing major currencies while AUD lags the most, following release of poor jobs data from Australia. Scale of moves on the cryptocurrency market is small and major coins are trading mixed. Precious metals gain while oil is pulling back slightly.
Economic calendar for the day ahead is quite busy. Norges Bank and the Central Bank of the Republic of Turkey are set to announce rate decisions at 9:00 am GMT and 11:00 am GMT, respectively. Both central banks are expected to leave rates unchanged. ECB minutes will be released shortly after noon (12:30 pm GMT) so EUR may see some volatility. Speaking of ECB, a number of ECB members are scheduled to speak today, including President Lagarde (see speakers schedule below). US housing market data, jobless claims and Philly Fed index will all be released at 1:30 pm GMT and may trigger some moves on the market. Note that weaker than expected retail sales and PPI data triggered a significant sell-off on Wall Street yesterday. Energy traders will tune in for data on natural gas storage (3:30 pm GMT) and on oil inventories (4:00 pm GMT). API report released yesterday pointed to a significant build in oil inventories and investors will look for confirmation today. Last but not least, Netflix is set to report Q4 2022 earnings today after the close of the Wall Street session!
9:00 am GMT - Norges Bank rate decision
11:00 am GMT - Central Bank of Republic of Turkey rate decision
12:30 pm GMT - ECB minutes
1:30 pm GMT - US, jobless claims. Expected: 213k. Previous: 205k
1:30 pm GMT - US, housing market data for December.
-
Building permits. Expected: 1370k. Previous: 1351k
-
Housing starts. Expected: 1360k. Previous: 1427k
1:30 pm GMT - US, Philadelphia Fed index for January. Expected: -11.0. Previous: -13.8
3:30 pm GMT - EIA report on natural gas storage. Expected: -75 bcf. Previous: +11 bcf
4:00 pm GMT - DOE report on oil inventories.
-
Oil inventories. Expected: -1.7 mb (API: +7.6 mb)
-
Gasoline inventories. Expected: +2.3 mb (API: +2.8 mb
-
Distillate inventories. Expected: +0.5 mb (API: -1.8 mb)
Central bankers' speeches
-
9:30 am GMT - ECB Lagarde
-
10:30 am GMT - ECB Lagarde
-
1:00 pm GMT - SNB Schlegel
-
2:00 pm GMT - ECB Knot
-
2:00 pm GMT - Fed Collins
-
5:00 pm GMT - ECB Schnabel
-
6:15 pm GMT - Fed Brainard
-
11:35 pm GMT - Fed Williams
Top US earnings release
-
Procter & Gamble (PG.US) - before market open
-
Netflix (NFLX.US) - after market close
