Economic calendar: GDP data from US and Canada, speeches from ECB members

• European indices open little changed
• GDP data from US and Canada
• Speeches from ECB Panetta and ECB Villeroy

European indices launched today's trading little changed, in spite of an upbeat trading on Wall Street yesterday and a rather mixed session in Asia earlier today. Markets are getting into holiday mood, with the majority of the markets being closed tomorrow. This means that today is the final trading session ahead of the long weekend, and it may influence market sentiment. Moreover, it is also the final session of the Q1 2024, meaning that some rebalancing flows may also be present.

Economic calendar for today includes some interesting releases. Two key reports from Europe - German retail sales for February and UK Q4 GDP revision - were already released earlier today at 7:00 am GMT, but traders will still be offered unemployment rate data from Germany. Things get more interesting in the afternoon with release of monthly Canadian GDP report for January and revised US GDP report for Q4 2023. Energy traders will focus on EIA report on US natural gas inventories.

8:55 am GMT - Germany, unemployment rate for March. Expected: 5.9%. Previous: 5.9%

12:30 pm GMT - Canada, monthly GDP report for January. Expected: 0.4% MoM. Previous: 0.0% MoM

12:30 pm GMT - US, GDP report for Q4 2023 (third release)

• Annualized GDP growth. Second release: 3.2%
• Core PCE. Second release: 2.1% QoQ
• PCE. Second release: 1.7% QoQ
• Annualized personal consumption. Second release: 3.0%

12:30 pm GMT - US, jobless claims.

• Initial jobless claims. Expected: 214k. Previous: 210k
• Continuing jobless claims. Expected: 1815k. Previous: 1807k

1:45 pm GMT - US, Chicago PMI for March. Expected: 45.9. Previous: 44.0

2:00 pm GMT - US, pending home sales for February. Expected: 1.5% MoM. Previous: -4.9% MoM

2:00 pm GMT - US, University of Michigan data for March (final).

• Consumer Sentiment index. First release: 76.5
• Current Conditions subindex. First release: 79.4
• Expectations subindex. First release: 74.6
• 1-year inflation expectations. First release: 3.0%
• 5-year inflation expectations. First release: 2.9%

2:30 pm GMT - EIA natural gas report. Expected: -25 bcf. Previous: +7 bcf

Central bankers' speeches

• 9:00 am GMT - ECB Panetta
• 5:30 pm GMT - ECB Villeroy