Economic calendar: ECB minutes, US GDP report revision

• European stock markets set for higher opening

• ECB minutes and US Q2 GDP report revision

• Jackson Hole agenda to be released tonight

Futures markets point to a higher opening of the European cash session with DAX futures trading more than 100 points above yesterday's cash close. EUR caught a bid ahead of the European morning trade, allowing EURUSD to climb back above 1.00 mark. Elsewhere, oil is trading slightly lower while precious metals benefit from the USD weakness.

A key event of the week - Powell's speech at Jackson Hole - is scheduled for tomorrow but full agenda of the event will be released around 1:00 am BST. While it is unlikely to trigger big market moves, it will provide some more clarity on what to expect from the event, and whether any other top central bankers are scheduled to speak.

Taking a look at economic calendar for today we can see that there are some interesting releases scheduled. German IFO business climate is the key point in the calendar for European morning trade, followed by ECB minutes in the early afternoon. The US GDP report at 1:30 pm BST will be a revision and therefore may be largely overlooked by the markets.

9:00 am BST - Germany, IFO business climate for August. Expected: 86.7. Previous: 88.6

12:30 pm BST - ECB minutes

1:30 pm BST - US, annualized GDP report for Q2 2022 (revision). First release: -0.9%

1:30 pm BST - US, jobless claims. Expected: 254k. Previous: 250k

3:30 pm BST - US, EIA natural gas storage. Expected: 54 bcf. Previous: 18 bcf