What are the main events for today?

This market overview highlights a busy macro calendar that could influence FX and rates markets, especially EUR/USD. In Europe, traders are watching Eurozone Q2 GDP, German CPI, Spanish inflation data, and the Bank of England rate decision. The BoE is expected to hold rates at 3.75% with a 7-2 vote split, while any change in forward guidance could be read as hawkish. In the U.S. session, the focus shifts to Q2 GDP, PCE inflation, and weekly jobless claims. GDP is expected to remain firm at 2.0%, but the PCE readings are the key event for the Fed and for dollar direction. Overall, the article suggests limited immediate market impact from growth data, with inflation releases and central-bank messaging likely to drive the biggest moves in EUR/USD and broader FX.