JPMorgan expects that the ECB will only raise rates by 50 bps before the end of the year, down from the previous forecast for 75-bps worth of rate hikes.
Standard & Poor’s reaffirmed Italy’s BBB rating but lowered the outlook to Stable from Positive.
Adidas lowered its outlook for the fiscal year. Germany’s GfK consumer survey fell to a record low.
Eurozone’s June M3 Money Supply 5.7% yr/yr (expected 5.4%; last 5.6%) and Private Sector Loans 4.6% yr/yr (last 4.6%)
Germany’s August GfK Consumer Climate -30.6 (expected -28.9; last -27.7)
France’s July Consumer Confidence 80, as expected (last 82)
Italy’s July Consumer Confidence 94.8 (expected 96.6; last 98.3) and Business Confidence 106.7 (expected 108.0; last 109.5)
Swiss July ZEW Expectations -57.2 (last -72.7)