Focus is expected to be on the Ukraine crisis once again, as there is an event inBelarus’s capital Minsk, where top officials from the Eurasian customs union andfrom the EU, Russia’s president Vladimir Putin and the foreign affair Chief andTrader commissioner, are meeting with president Poroshenko. Whether or notPoroshenko and Putin succeed in negotiating, the event should be considered positiveby the markets as it will be the first negotiation talks since a short meeting in earlyJune. One of the topics will be future gas supplies through Ukraine’s territory, seeUkraine crisis update, 25 August.
In terms of data releases focus will be on the US, where durable goods orders andconsumer confidence are due. In June core durable goods orders increased 3.3% m/mbut core shipments that go into investments in GDP were lower at -0.3% m/m, leavinginvestments on a slightly weak note in Q2. US conference board consumer confidencewill also draw some attention and we expect a decrease to 88.0 in August from a highlevel of 90.9 in July.
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