- European indices set to open slightly higher
- FOMC minutes in the spotlight
- Nvidia to report earnings after market close
European index futures point to a slightly higher opening of the cash session on the Old Continent today. This comes after an upbeat trading on Wall Street yesterday and during the Asia-Pacific session earlier today. A drop in US yields is putting pressure on USD, which is one of the worst performing G10 currencies this morning. On the other hand, USD weakness is providing support for gold and silver, which gain 0.7 and 1.3%, respectively.
Economic calendar for the first half of the day is light. However, things get more interesting in the afternoon with release of Canadian CPI report for October as well as FOMC minutes. This will be the final inflation reading from the Canadian economy before the Bank of Canada meets to decide on rates on December 6, 2023. When it comes to FOMC minutes, traders will look for hints whether US central bankers see need for more rate hikes after keeping rates unchanged in the 5.25-5.50% range at November meeting.
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While Wall Street earnings season is slowly drawing to a close, traders will be offered a report that may have big impact on tech sector sentiment today after market close - earnings from Nvidia (NVDA.US)
9:00 am GMT - Poland, data pack for October.
- Employment change. Expected: 0.0% YoY. Previous: 0.0% YoY
- Wage growth. Expected: 11.8% YoY. Previous: 10.3% YoY
- Industrial production: Expected: 1.6% YoY. Previous: -3.1% YoY
1:30 pm GMT - Canada, CPI inflation for October. Expected: 3.2% YoY. Previous: 3.8% YoY
3:00 pm GMT - US, existing home sales for October. Expected: 3.91 million. Previous: 3.96 million
7:00 pm GMT - FOMC minutes
9:40 pm GMT - API report on US oil inventories
Central bankers' speeches
- 9:05 am GMT - BoE Gerken
- 10:15 am GMT - BoE Governor Bailey
- 1:45 pm GMT - ECB McCaul
- 4:00 pm GMT - ECB President Lagarde
- 5:00 pm GMT - ECB Schnabel
- 5:35 pm GMT - ECB Centeno
Top Wall Street earnings releases
- Baidu (BIDU.US) - before market open
- Best Buy (BBY.US) - before market open
- Kohl's Corporation (KSS.US) - before market open
- Lowe's Companies (LOW.US) - before market open
- HP Inc (HPQ.US) - after market close
- Nvidia (NVDA.US) - after market close
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