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European markets expected to open lower
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Oil awaits OPEC+ meeting
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Powell's speech important for equities
European stock index futures point to a lower opening of the European session. However, a big part of the overnight losses has been recovered during the second half of the Asian session. There are 2 big events scheduled for today - OPEC+ meeting and Powell's speech. There seems to be no market consensus for how much and whether OPEC+ brings back production so oil may get volatile once a decision is announced. Powell event will be an interesting one as it will be mostly Q&A session. He will probably stick to repeating that outlook remains uncertain and stimulus is still needed. However, if he continues to play spiking yields, equities may find themselves under pressure.
10:00 am GMT - Euro area, retail sales for January. Expected: -1.1% MoM. Previous: 2% MoM
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Open account Try demo Download mobile app Download mobile app1:30 pm GMT - US, jobless claims. Expected: 775k. Previous: 730k
2:00 pm GMT - OPEC+ meeting.
3:00 pm GMT - US, factory orders for January. Expected: 2.1% MoM. Previous: 1.1% MoM
5:05 pm GMT - Powell speech
US earnings
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Costco (COST.US) - after market close
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Kroger (KR.US) - before market open
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