The ECB President Mario Draghi and the Federal Reserve Chair, Janet Yellen will be speaking at the Jackson Hole Symposium today. Remarks on monetary policy, from both the central bankers, are expected to be the major market moving events today. However, the risk of not addressing monetary policy also looms which could keep the markets in check.
On the economic front, the UK’s second revised estimate was released yesterday. Data from ONS showed that the GDP advanced 0.3% in the second quarter. However, business investment was seen to be flat, missing estimates of a 0.2% increase. In the US existing home sales rose 5.44 million, slower than the month before.
Looking ahead, the economic calendar today will see the US durable goods orders and the German Ifo business climate.
