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European indices set for higher opening
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Flash PMIs for January from Europe and the United States
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Earnings from 5 Dow Jones members, including Microsoft
European index futures point to a higher opening of the cash session on the Old Continent today. Risk-on moods can be spotted on the global markets today with index futures, industrial metals and cryptocurrencies trading higher. Precious metals gain on USD weakness while oil trades a touch lower on the day.
Economic calendar for the day ahead is packed with releases of flash PMI indices for January from Europe and the United States. When it comes to European releases, attention will be paid mostly to French (8:15 am GMT) and German data (8:30 am GMT), and in both cases a small improvement is expected. Nevertheless, PMIs in France and Germany are expected to remain in contraction territory. US reading at 2:45 pm GMT is expected to show a small deterioration in manufacturing data and small improvement in services data. Looking past PMIs, speeches from ECB members may provide some EUR volatility while oil traders will focus on API report on oil stocks. Last but not least, a number of big name US companies is scheduled to report today, including 5 Dow Jones members (3M Company, Johnson & Johnson, Travelers, Verizon Communications and Microsoft).
8:15 am GMT - France, flash PMIs for January.
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Manufacturing. Expected: 49.7. Previous: 49.2
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Services. Expected: 49.9. Previous: 49.5
8:30 am GMT - Germany, flash PMIs for January.
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Manufacturing. Expected: 47.8. Previous: 47.1
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Services. Expected: 49.6. Previous: 49.2
9:00 am GMT - Euro area, flash PMIs for January.
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Manufacturing. Expected: 48.6. Previous: 47.8
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Services. Expected: 50.2. Previous: 49.8
9:30 am GMT - UK, flash PMIs for January.
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Manufacturing. Expected: 45.6. Previous: 45.3
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Services. Expected: 49.9. Previous: 49.9
2:45 pm GMT - US, flash PMIs for January.
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Manufacturing. Expected: 46.0. Previous: 46.2
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Services. Expected: 45.0. Previous: 44.7
9:40 pm GMT - API report on oil inventories. Expected: +1.5 mb. Previous: +7.61 mb
Central bankers' speeches
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8:10 am GMT - ECB Knot
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9:00 am GMT - ECB Vujcic
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9:00 am GMT - BoE Breeden
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9:45 am GMT - ECB President Lagarde
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4:30 pm GMT - SNB Schlegel
Top Wall Street earnings releases
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3M Company (MMM.US) - before market open
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General Electric (GE.US) - before market open
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Johnson & Johnson (JNJ.US) - before market open
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Raytheon Technologies (RTX.US) - before market open
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Travelers (TRV.US) - before market open
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Lockheed Martin (LMT.US) - before market open
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Verizon Communications (VZ.US) - before market open
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Microsoft (MSFT.US) - after market close
