EUROPEAN SESSION
In the European session, we have the German IFO survey which is expected to improve to 87.2 vs 86.6 in the prior month. The IFO is correlated with the German Composite PMI given that they measure basically the same thing, although they occasionally diverge due to differences in survey design and sector weightings. The data is not going to change anything for the ECB, so the market reaction will likely be muted.
AMERICAN SESSION
In the American session, the only highlight is the US Consumer Confidence report which is expected to tick lower to 90.2 vs 90.8 in the prior month. Again, the data is not going to change anything for the Fed, so the market reaction will likely be muted. The focus right now is on Treasury buybacks, US-Iran deadlock and the upcoming Jackson Hole Symposium.
CENTRAL BANK SPEAKERS
- 12:00 GMT/08:00 ET - Fed's Barkin (neutral - non voter)
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