• European indices set to open higher
  • US retail sales data on the agenda
  • Lagarde and Powell to deliver speeches

European futures markets point to a higher opening of the cash trading session on the Old Continent. While the Wall Street session yesterday was mixed, moods improved during today’s Asian session, allowing indices from the region to move higher.

Economic calendar for the day ahead includes some interesting releases. The most important macro print of the day will be the release of US retail sales data for April at 1:30 pm BST. Report is expected to show another increase in monthly retail sales. Apart from that, investors will also get to hear from ECB President Lagarde (6:00 pm BST) and Fed Chair Powell (7:00 pm BST). Last but not least, earnings reports from Walmart and Home Depot will be released today ahead of the Wall Street session.

9:00 am BST – Poland, GDP report for Q1 2022. Expected: 8% YoY. Previous: 7.3% YoY

10:00 am BST – Euro area, GDP report for Q1 2022 (revision). First release: 5% YoY

1:30 pm BST – US, retail sales for April.

  • Headline. Expected: 0.9% MoM. Previous: 0.7% MoM
  • Ex-auto. Expected: 0.4% MoM. Previous: 1.4% MoM

2:15 pm BST – US, industrial production for April. Expected: 0.5% MoM. Previous: 0.9% MoM

3:00 pm BST – US, business inventories for March. Expected: 1.8% MoM. Previous: 1.5% MoM

9:40 pm BST – API report on oil inventories. Expected: 1.5 mb. Previous: 1.62 mb

Central bankers’ speeches

  • 1:00 pm BST – Fed Bullard
  • 2:15 pm BST – Fed Harker
  • 6:00 pm BST – ECB President Lagarde
  • 7:00 pm BST – Fed Chair Powell

Wall Street earnings releases

  • Home Depot (HD.US) – before market open
  • Walmart (WMT.US) – before market open
  • JD.com (JD.US) – before market open
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