The german ifo survey leads Tuesday’s calendar, with the index seen rising to 87.2 from 86.6 in the prior month.
The European session centers on Germany’s IFO release. According to the source, the survey tends to track the German Composite PMI because both gauges measure much the same trend. However, the two can at times move apart because their survey setup and sector weights differ.
The source said the data is unlikely to alter the ECB outlook. As a result, it said the market response will likely stay limited.
German IFO Survey in Focus
In the American session, attention turns to the US Consumer Confidence report. The reading is expected to edge down to 90.2 from 90.8 in the previous month.
However, the source also said that release is not expected to shift the Fed outlook. Therefore, it said the market reaction will likely remain muted there as well.
Beyond the scheduled data, the source said markets are focused on Treasury buybacks, the US-Iran deadlock and the upcoming Jackson Hole Symposium. Those themes sit alongside the german ifo survey and the US confidence report on today’s agenda.
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Source: InvestingLive
