The main focus for investors today will be on the U.S data due to be released at 13:30 BST. Analysts anticipate that the data will continue with the recent trend of strength in the region with unemployment claims expected to fall and core durable goods orders expected to rise.
Earlier in the day however, we have the German Ifo business climate & the UK prelim GDP (9 & 9:30 respectively). Whilst analysts expect the German business confidence to rise for a third month, the UK economy has received a massive boost with news that it probably expanded faster in the second quarter than the first.
Helped by growing confidence among consumers and by signs that companies are ready to borrow and spend more, Official statistics ay are expected to show that growth came to 0.6 percent in the April-to-June period compared with the previous quarter.
However, the health of Britain’s economy still contrasts with most European trading partners, leaving many believing that Mark Carney will still be in favour of calling on extra help to see sustainable growth. The Bank under Carney is widely expected to start providing detailed guidance from next month on how long interest rates will remain low.