U.S. and Mexican officials are close to reaching an agreement that could pave the way for Canada to return to negotiations on the NAFTA. U.S. President Donald Trump said earlier that a big trade deal with Mexico could be concluded soon.
This week is relatively quiet with a few important economic data.
Growth and PCE data in the United States
The second estimate of US GDP data is due for the second quarter of 2018 and the economy is expected to grow by 4% from the first reading of 4.1%, the highest reading since the third quarter of 2014.
Core PCE data, the Fed's preferred indicator of inflation, is also expected to rise by 2% in July on a yearly basis, and compared to June's 1.9% rise.
European inflation data
The preliminary reading of inflation figures for the euro zone for August will be announced and the CPI is expected to rise by 2.1%, unchanged from last month. The European Central Bank is targeting 2%, and the ECB aims to end its bond buying program by the end of this year and to consider raising rates next year.
