Economic calendar: Earnings and GDP reports

• US GDP seen contracting annualized 34% in Q2 2020

• Germany GDP seen shrinking 9% QoQ

• Alphabet, Amazon, Apple and Facebook to release earnings

FOMC meeting turned out to be a non-event. Thursday, however, looks interesting as well with German and US GDP reports scheduled for release. Both are expected to show massive declines and could trigger bigger moves on the market. Apart from that, 4 major tech companies - Alphabet, Amazon, Apple and Facebook - will release their earnings reports after Wall Street session ends.

8:55 am BST - Germany, unemployment rate for July. Expected: 6.5%. Previous: 6.4%

9:00 am BST - Germany, GDP for Q2 2020. Expected: -9% QoQ. Previous: -2.2% QoQ

1:00 pm BST - Germany, CPI inflation for July (flash). Expected: 0.2% YoY. Previous: 0.9% YoY

1:30 pm BST - US, GDP for Q2 2020 (annualized). Expected: -34.1%. Previous: -5%

1:30 pm BST - US, initial jobless claims. Expected: 1450k. Previous: 1416k

Noteworthy earnings reports

• Alphabet (GOOGL.US) - after market close

• Amazon (AMZN.US) - after market close

• Apple (AAPL.US) - after market close

• ConocoPhillips (COP.US) - before market open

• Electronic Arts (EA.US) - after market close

• Facebook (FB.US) - after market close

• Ford Motor (F.US) - after market close

• Mastercard (MA.US) - before market open