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Today’s Economic Calendar

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  • European indices point to a higher opening
  • US oil report on watch after API pointed to big drop
  • Czech National Bank set to leave rates unchanged

European index futures point to a higher opening of the cash session on the Old Continent today, with Euro Stoxx and DAX futures trading around 0.5% higher at press time. This comes after a rather upbeat Asian session when regional indices gained. AUD is one of the worst performing G10 currencies after Australian CPI data for February came in lower-than-expected. On the other hand, USD is among G10 leaders and it is putting pressure on precious metals prices.

Economic calendar for the day ahead is light as all top-tier releases scheduled for this week will come on Thursday and Friday. Traders will be offered a rate decision from the Czech National Bank with rates being expected to stay unchanged. US pending home sales data at 3:00 pm BST may trigger some short-term volatility on USD, should it show a major deviation from expectations. Oil traders will focus on the official US report on oil inventories after API data released yesterday pointed to a massive drop.

1:30 pm BST – Czech National Bank rate decision

3:00 pm BST – US, pending home sales for February. Expected: -2.5% MoM. Previous: +8.1% MoM

3:30 pm BST – US, DOE report on US oil inventories.

  • Oil inventories. Expected: +0.3 mb (API: -6.08 mb)
  • Gasoline inventories. Expected: -1.6 mb (API: -5.89 mb)
  • Distillate inventories. Expected: -1.4 mb (API: +0.55 mb)

Central bankers’ speeches

  • 3:00 pm BST – Fed Barr
  • 5:30 pm BST – BoC Gravelle
  • 7:50 pm BST – BoE Mann
  • 9:45 pm BST – ECB Schnabel
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