• European markets set to open lower
• ECB decision in the spotlight
• Earnings from FuelCell Energy and NIO

Futures markets point to a lower opening of the European cash session, following a downbeat trading on Wall Street yesterday and in Asia today. Oil is pulling back slightly after reaching 3-month highs yesterday. Safe haven currencies, like CHF and JPY, outperform G10 peers.

Economic calendar for today is a rather empty one. However, there will be one key event that will surely be watched closely by market participants – ECB rate decision at 12:45 pm BST. The European Central Bank is not expected to deliver a rate hike today but will release updated forecasts and is likely to announce the end of the QE programme. This in turn would pave the way for an interest rate hike at the next meeting. Press conference of the ECB President at 1:30 pm BST will be closely watched as well as Lagarde may attempt to cool very hawkish market expectations.

12:45 pm BST – ECB rate decision

1:30 pm BST – US, jobless claims. Expected: 207k. Previous: 200k

Central bankers’ speeches

• 1:30 pm BST – ECB President Lagarde
• 2:00 pm BST – NBP Chairman Glapiński
• 4:00 pm BST – BoC Chairman Macklem

Wall Street earnings releases

• FuelCell Energy (FCEL.US) – before market open
• NIO (NIO.US) – before market open