Economic calendar: Biden inauguration and BoC decision

• European markets expected to open slightly higher

• Biden inauguration day

• BoC expected to leave rates unchanged

European stock markets are expected to launch today's cash trading slightly above yesterday's closing prices. The big event of the day is of course the inauguration of Joe Biden, who will be sworn in as the next US President at 5:00 pm GMT. Inauguration itself should not have a major impact on the markets but in case riots begin, some risk-off moves may be present. Apart from that, the Bank of Canada will announce a monetary policy decision but it is expected that the Bank will level monetary settings, including interest rates, unchanged.

10:00 am GMT - Euro area, CPI inflation for December (final). First release: -0.3% YoY

1:30 pm GMT - Canada, CPI inflation for December. Expected: 1% YoY. Previous: 1% YoY

3:00 pm GMT - Bank of Canada decision

9:40 pm GMT - API report on oil inventories. Expected: -0.3 mb. Previous: -5.82 mb

Biden inauguration schedule

• 4:15 pm GMT - ceremony begins

• 4:30 pm GMT - Kamala Harris sworn as Vice President

• 5:00 pm GMT - Joe Biden sworn as President

Central bankers' speeches

• 5:00 pm GMT - BoE Chairman Bailey

Wall Street earnings releases

• Morgan Stanley (MS.US) - before market open

• Procter & Gamble (PG.US) - before market open

• Bank of New York Mellon (BK.US) - before market open

• US Bancorp (USB.US) - before market open

• United Airline Holding (UAL.US) - after market close

• UnitedHealth Group (UNH.US) - before market open