Euro Area and US GDP data today

European equity markets gave up some ground yesterday, shedding around 1%, while US stocks made marginal gains

The euro is not much changed against the dollar, at around $1.11, and continues to trade at about 84p against sterling

The Bank of Japan eased policy at its meeting overnight but didn’t go as far as the market expected. The yen has strengthened notably as a result, rising by around 2% to Y103 against the dollar

Consumer confidence in the UK fell sharply in July post the Brexit vote according to GfK’s final survey results, with its indicator hitting a near three year low of -12

Data due today includes Euro Area and US GDP for the second quarter. Euro Area growth is expected to have eased according to the consensus forecast, to 0.3% q-o-q from 0.6% in the first quarter, while US growth is expected to have picked up  a little, to around 0.5% q-o-q from 0.3%.