Meanwhile, key economic releases include US Q2 GDP and June core PCE inflation (both Thursday), Euro Area Q2 GDP and July inflation data (Thursday/Friday), Japan’s Tokyo CPI (Friday) and China’s official PMIs (Friday). Durable goods orders (today) and the advance goods trade balance (tomorrow) will help shape expectations for the first estimate of Q2 GDP (Thursday). The Euro Area's preliminary Q2 GDP estimate is also due (Thursday), while Germany's Ifo survey (today) should provide an updated read on business sentiment. We expect net exports to contribute -1.3pp to Q2 GDP growth. We expect net exports to contribute -1.3pp to Q2 GDP growth.