SUMMARY OF TODAY'S ECONOMIC DATA 📊

Futures on major indices in Europe suggest a slightly higher open

Higher than expected Q1 GDP data in Japan

US housing data in focus

Wednesday's session on equity markets in Europe is expected to extend the mixed sentiment from the previous session. The dollar is slightly stronger against the major currencies, supported by positive data from the US, particularly in retail sales. Yesterday's comments by Fed members highlighted the priority of fighting inflation.

The main index in Japan is rising on the back of positive GDP data. The Japanese economy grew at its fastest pace in three quarters, with GDP growth reaching 1.6% y/y in the first quarter, beating expectations of 0.7%. Goldman Sachs sees promising prospects for the Japanese market thanks to corporate reforms and easy monetary policy.

There are no major macroeconomic events on today's calendar apart from the US housing data. At 13:30 GMT we will see data on housing permits and housing starts. In addition, investors can look for hints about future ECB monetary policy in speeches by central bank members scheduled for this morning.

Economic calendar:

11:00 - EU, Eurozone HICIP:

Expected: 7.0% y/y, Previous: 6.9% y/y

14:30 - US, housing market data

Building Permits: Expected: 1,435k, Previous: 1,413k.

1,400k, Previous: 1,420k.

Central bankers' speeches:

11:15 - UK, Bailey

17:15 PM BST - ECB, De Guindos (again)