* It will be a long day for EUR traders, as ECB Draghi is down on the slate to speak at Jackson Hole after European hours - 3pm CET.
* Ahead of this we have already had the German GDP data for Q2, unrevised at 0.6% qoq and 0.8% yoy. Next up is the IFO survey at 9.00am London time.
* EUR gains have been faltering on the upside, so it leaves all to believe just how many more times we can push north - specifically in EUR/USD - before we get more meaningful pullback.
* The ECB minutes have already revealed the governing council's concern over the FX overshoot, and today's address may be an opportunity to explain 'just why' this is the case. No one is doubting the positive outlook on the Euro zone and EUR, but the pace of gains here have been excessive, as is a common feature of this market in recent times.
* EUR/CHF is also now a touch under 1.1400 again, but we may get some support here from USD/CHF if we get some turn in the tide on the greenback, and it is all eyes and ears on Fed chair Yellen at 10.00am CET later today for that.
* Fed funds pricing for another hike this year has receded to a paltry 30%, and as economic pundit has pointed out, this is an opportunity at the very least for Yellen to re-balance expectations to smooth out any 'surprise' impact further down the line.
* Ahead of this we have already had the German GDP data for Q2, unrevised at 0.6% qoq and 0.8% yoy. Next up is the IFO survey at 9.00am London time.
* EUR gains have been faltering on the upside, so it leaves all to believe just how many more times we can push north - specifically in EUR/USD - before we get more meaningful pullback.
* The ECB minutes have already revealed the governing council's concern over the FX overshoot, and today's address may be an opportunity to explain 'just why' this is the case. No one is doubting the positive outlook on the Euro zone and EUR, but the pace of gains here have been excessive, as is a common feature of this market in recent times.
* EUR/CHF is also now a touch under 1.1400 again, but we may get some support here from USD/CHF if we get some turn in the tide on the greenback, and it is all eyes and ears on Fed chair Yellen at 10.00am CET later today for that.
* Fed funds pricing for another hike this year has receded to a paltry 30%, and as economic pundit has pointed out, this is an opportunity at the very least for Yellen to re-balance expectations to smooth out any 'surprise' impact further down the line.