What are the main events for today? | investingLive

In the European session, we don’t have much on the agenda other than a few low-tier releases like the final Swiss Q2 GDP or the final Eurozone consumer confidence. None of these data will change anything in terms of market pricing.

In the American session, we have the second estimate of the US Q2 GDP and the US Jobless Claims data. The GDP data will of course be ignored since it’s very old news, while the jobless claims figures could be market-moving if we get notable deviations.

Initial claims are expected at 230K vs 235K prior, while continuing claims are seen at 1970K vs 1972K prior. The data has been pointing to a “low firing, low hiring” labour market, which is understandable given all the tariffs mess we had in the first part of the year.

That is now behind us though, and the labour market could start to be more active again. Some regional surveys already showed a pick up in activity in August. We will see how that will translate into the more followed jobless claims, ADP and NFP data.