Investors are likely to focus on the so-called "FOMC minutes" this Wednesday evening. At the same time, the eagerly awaited central bankers' meeting in Jackson Hole (Wyoming) should already be casting its first shadows. In particular, a speech by Fed Chairman Jerome Powell expected on Friday is likely to be in the spotlight.
DAX
Source: TradingView
After White House meeting - investors likely to wait for new details on possible meeting between Trump, Putin and Zelenskyi
Investors are still waiting for details on a possible trilateral meeting between US President Donald Trump, Kremlin leader Vladimir Putin and Ukrainian President Volodymyr Zelenskyi.
According to a media report, the US government is considering the Hungarian capital Budapest as a possible venue for a meeting.
At the beginning of the week, Trump and various EU representatives met at the White House to discuss the Ukraine-Russia conflict.
Central bankers' meeting in Jackson Hole starts on Thursday
When central bankers, politicians and business representatives from all over the world gather in Jackson Hole in the US state of Wyoming from Thursday, the attention of DAX investors is likely to turn to the USA. The annual central bank meeting will continue until Saturday. A speech by Jerome Powell expected on Friday (16:00) should be of particular interest.
Fed minutes could provide monetary policy impetus this evening
From the perspective of the economic data calendar, the publication of the Fed minutes from the latest US Federal Reserve meeting (20:00) could provide a potential stimulus this evening. Investors are hoping that this will provide clues as to the future shape of US monetary policy.
It remains to be seen whether the US interest rate cut fantasies will remain alive after Powell's announced speech. According to the "Fed Watch Tool", there is currently an 82.9% chance that interest rates will be cut by a quarter of a percentage point at the upcoming September meeting. In contrast, there is a 17.1 percent probability that there could be a further pause in interest rates.
Purchasing managers on both sides of the Atlantic in focus on Thursday
On Thursday, there are also some purchasing managers on the agenda that need to be processed. In Germany, the index (HCOB) for the manufacturing, services and "total" sectors is scheduled for 09:30 and for the eurozone at 10:00. The counterparts for the USA (S&P Global) will follow at 15:45.
While the aforementioned Powell speech on Friday could decide the weal and woe, the first thing to watch in Germany this morning is the final data on German gross domestic product (GDP) (08:00).
