A near empty calendar day beckons in European trading again | investingLive

The only item on the economic calendar in Europe today is the French consumer confidence report for July. That will be due at 0645 GMT. Besides that, it’s pretty much an empty calendar day once again. However, that is not to say that traders and investors won’t have much to digest.

The big news since overnight trading was US president Trump announcing that he will fire Fed governor Cook. That sent the dollar spiraling lower initially before traders mapped out the feasibility of Trump’s decision. There will be legal hurdles to get through that could take some time but for now at best, Cook may be incapacitated in her position as Fed governor.

Besides that, there is also the further steepening in the US yield curve post-Jackson Hole here. It is one that is quietly making waves but worth noting in case it becomes of something in the weeks ahead.

For today, it seems like it might be another quieter session as markets also calm down following the Trump drama. In Europe, things will only really heat up on Friday with inflation numbers to go alongside month-end flows. So, do be wary about that.