- European indices set to open higher
- ECB minutes, US CPI data for September
- EIA reports in the spotlight after API signaled massive oil inventory build
European index futures point to a higher opening of the European cash session today. Lack of clear hawkish remarks in FOMC minutes released yesterday allowed US indices to extend recent gains and set the tone for an upbeat Asia-Pacific session. Run-up to the launch of European cash session is also looking promising with DAX futures (DE30) trading 0.4% higher on the day.
Economic calendar for the European morning trade is empty but things get more interesting in the afternoon. Traders will be offered ECB minutes at 12:30 pm BST followed by the US CPI report for September an hour later. It should be noted that PPI data released yesterday showed an unexpected acceleration in producers' price growth. Energy traders will focus on EIA report on natural gas and oil inventories. The latter will be watched closely after API private report released yesterday suggested a massive, almost-13 million barrel build in headline crude inventories. Last but not least, a number of ECB, Fed and BoE will deliver speeches today and it may add to volatility on the FX market.
12:30 pm BST - ECB minutes
1:30 pm BST - US, CPI inflation for September.
- Headline. Expected: 3.6% YoY. Previous: 3.7% YoY
- Core. Expected: 4.1% YoY. Previous: 4.3% YoY
1:30 pm BST - US, initial jobless claims. Expected: 210k. Previous: 207k
3:30 pm BST - EIA report on natural gas storage. Expected: +85 bcf. Previous: +86 bcf
4:00 pm BST - EIA report on oil inventories.
- Oil inventories. Expected: +1.3 mb (API: +12.94 mb)
- Gasoline inventories. Expected: -1.9 mb (API: +3.64 mb)
- Distillate inventories. Expected: -1.2 mb (API: -0.55 mb)
Central bankers' speeches
- 8:40 am BST - ECB Elderson
- 9:30 am BST - ECB Villeroy
- 10:00 am BST - BoE Pill
- 10:00 am BST - ECB Holzmann
- 11:00 am BST - ECB Knot
- 11:50 am BST - ECB Vujcic
- 12:00 pm BST - ECB Panetta
- 6:00 pm BST - Fed Bostic
- 9:00 pm BST - Fed Collins
