Private sector output in Germany expanded at a stronger pace than expected in August, boosting optimism over the health of the euro zone's largest economy, preliminary data showed on Wednesday.  The overall rate of expansion picked up from July’s ten-month low, a trend reflected in both manufacturing output and services business activity. The preliminary German manufacturing purchasing managers’ index climbed to 59.4 this month from a final reading of 58.1 in July. Analysts had expected the index to dip to 57.7 in August. The flash services purchasing managers’ index improved to 53.4 this month from 53.1 in July, above expectations for a reading of 53.3.

In the US session New Home Sales figures were released. Sales of new single-family houses in July 2017 were at a seasonally adjusted annual rate of 571,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.4 percent below the revised June rate of 630,000 and is 8.9 percent below the July 2016 estimate of 627,000. The median sales price of new houses sold in July 2017 was $313,700. The average sales price was $371,200. The seasonally-adjusted estimate of new houses for sale at the end of July was 276,000. This represents a supply of 5.8 months at the current sales rate.

There will be no data releases from Eurozone tomorrow. In the US session Unemployment Claims and Existing Home Sales figures will be published. Analysts predict increase in Unemployment Claims to 237,000, while Existing Home Sales should come to an annual rate of 5,55 million.

Figures to watch:

Unemployment Claims (Thursday 14:30)

Existing Home Sales (Thursday 16:00)