Focus is expected to be on the Ukraine crisis once again, as there is an event in Belarus's capital Minsk, where top officials from the Eurasian customs union and from the EU, Russia's president Vladimir Putin and the foreign affair Chief and Trader commissioner, are meeting with president Poroshenko. Whether or not Poroshenko and Putin succeed in negotiating, the event should be considered positive by the markets as it will be the first negotiation talks since a short meeting in early June. One of the topics will be future gas supplies through Ukraine's territory, see Ukraine crisis update , 25 August.
In terms of data releases focus will be on the US, where durable goods orders and consumer confidence are due. In June core durable goods orders increased 3.3% m/m but core shipments that go into investments in GDP were lower at -0.3% m/m, leaving investments on a slightly weak note in Q2. US conference board consumer confidence will also draw some attention and we expect a decrease to 88.0 in August from a high level of 90.9 in July.
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