FOREX: Wednesday's review

Data released:
08:00     Germany     IFO business climate index (August)    108.7    111.0    112.9
09:00     EU(17)     Industrial orders (June)    -0.7%    0.5%    3.6%
09:00     EU(17)     Industrial orders (June) Y/Y     11.1%    11.9%    15.5%
12:30     USA     Durable goods orders (July)    4.0%    2.0%    -1.3 (-2.1)%
12:30     USA     Durable goods orders excluding transportation (July)    0.7%    -    0.1%
12:30     USA     Durable goods orders excluding defence (July)    4.8%    -    -1.8%
23:01     UK     Nationwide consumer confidence (July)    49    45    51

European data for Thursday starts at 0600GMT with German construction orders data for June. Later, France registered jobseekers data is due at 1600GMT. The most anticipated event of the week is the speeches Jackson Hole, which gets underway this evening. European speakers at the event include ECB President Trichet, where he will have chance to reflect on the euro zone's current economic weakness and maybe vent some frustration at the continuing failure of euro zone politicians to come up with a solution to the crisis. He will be joined by ECB
Executive Board Members Peter Praet and Gonzalez Paramo. Since he joined in June, Praet has had only a few public outings and this will be an opportunity to guage where this ECB member stands in terms of dovishness/hawkishness.In the UK, at 1000GMT, CBI Distributive Trades data is due, which is followed at 1100GMT when Bank of England MPC member Martin Weale delivers a speech at the Doncaster Chamber of Commerce. Weale has already given a fairly full explanation of his reasons for dropping his rate hike call at the August MPC meeting, but his comments will still be closely-watched.