There were no major data releases from Eurozone yesterday, however, Mario Draghi held a speech at the Deutsche Bundesbank's Marjolin Lecture, in Frankfurt. He said that he sees no reason for permanently lower inflation and that specific Eurozone challenges don't justify inaction. He also added that mon pol can not be relaxed about aeries of supply shocks. According to Draghi ECB will not surrender to low inflation, but he said that no doubt that if ECB needed to adopt a more expansionary policy the risk of side effects would not stand in their way. However, he emphasized that there are risks of acting too late outweigh risks of acting too early.
There will be no data releases from Eurozone tomorrow. In the US session Trade Balance and NFP figures are scheduled for a release. Trade Balance deficit is expected to increase to $42.9 billion, while analysts predict increase by 189,00 in employment, with unemployment rate remaining unchanged at 5.0%.
Figures to watch:
Non-Farm Employment Change/Unemployment Rate (Friday 14:30)
Trade Balance (Friday 14:30)
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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