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European indices set for higher opening
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OPEC+ ministerial meeting - no surprise expected
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US data pack for February, including PCE inflation
Futures markets point to a higher opening of today's cash trading session for the major European indices. German DAX futures trade around 60 points above yesterday's cash close at press time. Oil is a big theme today after media reports surfaced saying that the US is seeking a massive SPR release. This has triggered a big drop in oil prices during the Asian trading. OPEC+ ministerial meeting is also scheduled for today but no surprise is expected - output hike policy will be left unchanged most likely.
Looking past oil market, investors will be offered monthly GDP report from Canada, German unemployment rate as well as US data pack for February, including core PCE inflation
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Open account Try demo Download mobile app Download mobile app8:55 am BST - Germany, unemployment rate for March. Expected: 5.0%. Previous: 5.0%
10:00 am BST - Euro area, unemployment rate for February. Expected: 6.7%. Previous: 6.8%
10:00 am BST - Italy, CPI inflation for March. Expected: 6.4% MoM. Previous: 5.7% MoM
1:30 pm BST - Canada, monthly GDP report for January. Expected: 0.2% MoM. Previous: 0.0% MoM
1:30 pm BST - US, data pack for February.
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Personal spending. Expected: 0.5% MoM. Previous: 2.1% MoM
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Personal income. Expected: 0.5% MoM. Previous: 0.0% MoM
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Core PCE inflation. Expected: 5.5% YoY. Previous: 5.2% YoY
1:30 pm BST - US, jobless claims. Expected: 200k. Previous: 187k
2:45 pm BST - US, Chicago PMI index for March. Expected: 56.5. Previous: 56.3
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