Afghanistan crisis continues as evacuation deadline rapidly approaches.

With the deadline for Allied troops to leave Afghanistan, many hopeful of evacuation have been asked to leave the area surrounding the airport. The individuals looking to seek refuge from the Taliban have been asked to move out of the area because of a supposed terrorist threat from the local IS group.

The most important data out today is the US GDP figure, which is expected to come in at 6.7 percent at 13:30 EST. However, with Goldman Sachs just reducing their growth forecasts for the country, anything below that amount will certainly create some volatility.

Due to a global chip shortage, vehicle production in the United Kingdom has reached its lowest level since 1956, with Jaguar-Land Rover ceasing production. Due to stressed supply chains and COVID-related shutdowns, factories in the Far East have been unable to obtain the raw materials they require.

Both Tesco and Iceland have cautioned customers that the shortage of HGV drivers in the UK will have an impact on supply chains over the holidays. Tesco is even offering drivers a £1,000 signing bonus if they agree to work for them on a temporary basis. This comes just days after US Vice President Harris urged parents to buy Christmas gifts early to avoid disappointment as the holiday season approaches.

Economic Calendar

09:00EUR M3 Money Supply (YoY)(JUL)7.7%8.3%
12:30EUR ECB Publishes Account of Monetary Policy Meeting
13:30USD Continuing Jobless Claims2,790K2,820K
13:30USD GDP Price Index (QoQ) (Q2)6.0%6.1%
13:30USD Initial Jobless Claims350K348K
16:00EUR ECB's Schnabel Speaks

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