Economic calendar: ECB minutes, US GDP data revision

• European markets set for lower opening

• ECB minutes to be released at 12:30 pm BST

• US Q2 GDP data revision, jobless claims

Futures markets point to a lower opening of the European session, following lacklustre performance of Asian equities. Risk-off moods also hit commodities with precious metals, industrial metals, agricultural goods and oil trading lower. 

ECB minutes will be released in the early afternoon but the document is not expected to show any major surprises. However, it may help shape expectations ahead of the next ECB meeting that is 2 weeks away from now.  Revision of the US GDP data may trigger some short-term volatility but it is not expected to show major deviations from initial reading.

Fed's annual economic symposium in Jackson Hole begins tomorrow. Unlike in previous years, the event will be held online this year.  It won't be until 8:00 pm ET (1:00 am BST) today that the full agenda of the event will be announced. It is already known that key speech - speech from Fed Chair Powell - will be delivered tomorrow at 3:00 pm BST.

12:30 pm BST - ECB minutes

1:30 pm BST - US, GDP report for Q2 2021 (second release).

• GDP growth (annualized). First release: 6.5% QoQ

• PCE core. First release: 6.1% QoQ

1:30 pm BST - US, jobless claims. Expected: 350k. Previous: 348k

3:30 pm BST - EIA natural gas storage. Expected: 40 bcf. Previous: 46 bcf

Central bankers' speeches

• 4:00 pm BST - ECB Schnabel

US earnings reports

• Coty (COTY.US) - before market open

• Dell Technologies (DELL.US) - after market close

• Dollar General (DG.US) - before market open

• HP (HPQ.US) - after market close