In Germany, no revisions are expected to the provisional second quarter GDP data, leaving a flat quarterly change and a 0.2 percent yearly contraction.

The Ifo business climate index missed expectations for a fourth time in a row in July, falling from 88.6 in June to 87.3 and missing expectations for 88.0. Forecasters see a half point loss to 86.8 for August.

The University of Michigan's consumer sentiment index is expected to end August at 71.2, unchanged from August's mid-month flash, with year-ahead inflation expectations also expected to be unchanged at 3.3 percent.

Federal Reserve Chairman Jerome Powell is scheduled to speak on the economic outlook before the 2023 Jackson Hole Economic Symposium hosted by the Federal Reserve Bank of Kansas City at 10:05 a.m. EDT (1405 GMT). Participants will discuss structural shifts in the global economy this year.

At the symposium, European Central Bank President Christine Lagarde will deliver a speech at 3 p.m. EDT (1900 GMT).

Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.

Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.