Economic calendar: Waiting for Nvidia earnings and Jackson Hole

• European indices set for lower opening
• People's Bank of China delivers disappointing rate cut
• Nvidia earnings, flash PMIs and Jackson Hole symposium among this week's highlights

European index futures point to a flat opening of the cash session on the Old Continent today. The first Asia-Pacific trading session of a new week turned out to be mixed. While the majority of blue chips indices from the region gained, equities in China were under pressure following a disappointing rate decision from People's Bank of China. PBoC delivered a 10 basis point rate cut to 1-year lending rate while keeping the 5-year rate unchanged. However, the market expected 15 basis point cuts to both rates.

Economic calendar for today is empty. The aforementioned PBoC decision was the only noteworthy macro event scheduled for today. However, things get much more interesting later into the week with flash PMIs for August, Fed's Jackson Hole Symposium as well as Nvidia earnings!

Events to watch in the later part of the week

Tuesday

• US existing home sales for July

• API report on oil inventories

• Speeches from Fed Goolsbee, Fed Bowman and Fed Barkin

Wednesday

• Flash PMIs for August from Europe and the United States

• Canadian retail sales for June

• EIA report on oil inventories

• Nvidia earnings (after-market close)

Thursday

• Jackson Hole Symposium begins

• CBRT rate decision

• ECB minutes

• US durable goods orders for July

• EIA report on natural gas storage

Friday

• German Q2 GDP report (revision)

• University of Michigan data for August (revision)

• Speeches from Fed Chair Powell and ECB President Lagarde