Stock markets are set to open higher on Thursday as investors analyse the latest German inflation statistics.

As investors analyse the latest German inflation statistics and the continuation of the quarterly corporate earnings season, European stock markets are set to open higher on Thursday.

The German CPI for January, which was delayed due to technical issues, gained 1% month on month, more than predicted, but the annual number only rose to 8.7%, less than the 8.9% projected, according to statistics released Thursday.

Investors in Europe and the United States have been looking for signals that inflation has peaked so that central bankers may begin to reign down their aggressive interest rate rises.

Last week, the European Central Bank hiked interest rates by half a percentage point and projected a similar increase for next month.

On Tuesday, Federal Reserve Chair Jerome Powell struck a less hawkish tone than expected. However, a number of his colleagues, notably Fed Governor Christopher Waller, were quick to highlight Wednesday that the central bank's rising cycle is far from done, saying "we have farther to go" to combat inflation.

Back in Europe, the quarterly results season is still in full swing.

Credit Suisse is set to be in the limelight after the controversy. The Swiss lender reported a yearly loss of CHF7.29 billion (CHF1 = $1.0881), the biggest figure since the 2008 financial crisis and the bank's second consecutive annual loss.

AstraZeneca and Unilever have also planned quarterly earnings reports.

Oil prices remained at two-week highs on Thursday, despite US oil inventories reaching their biggest level in months, increasing concerns about declining demand in the world's largest economy.

The EIA said on Wednesday that crude oil reserves in the United States increased by 5 million barrels last week, reaching their highest level since June 2021.

Key Developments:

• BoE MPC Treasury Committee hearings
• EU Leaders Summit
• U.S. Initial Jobless Claims

(Investing.com, Reuters.com)