Economic calendar: US data and Bank of Mexico rate decision

• Third release of US GDP report for Q2

• Bank of Mexico expected to cut rates today

• Number of Fed members scheduled to speak throughout the day

1:30 pm BST - US, GDP report for Q2 (third release). The second revision of the US GDP report for Q2 will be released today. Each subsequent release includes more actual data and less estimates therefore it has a scope to enhance analysis. However, it should be noted that with each subsequent release the scale of market reaction tends to decrease. Simultaneously, the trade balance data for August will be released and it is expected to show a deficit of $73.3 billion.

3:00 pm BST - US, Pending home sales for August. New home sales data for August that was released earlier this week came in better than expected. The US housing market looks to be in much better shape than expected as all readings for August surprised to the upside. Pending home sales data is expected to show a 1% MoM increase.

7:00 pm BST - Bank of Mexico rate decision. The Bank of Mexico unexpectedly lowered interest rates during its meeting in August. Market expects the Bank to deliver another 25 bp cut today and lower main rate to 7.75%. MXN may find itself under pressure in case central bankers hint at more easing in the coming months.

Central bankers’ speeches

• 2:30 pm BST - Fed’s Kaplan

• 2:30 pm BST - ECB President Draghi

• 2:45 pm BST - BoE Deputy Governor Cunliffe

• 3:00 pm BST - Fed’s Bullard

• 4:45 pm BST - Fed’s Clarida and Daly

• 7:00 pm BST - Fed’s Kashkari

• 9:30 pm BST - Fed’s Barkin