Analysts at TD Securities are expecting the second release of Q2 GDP figures for the U.S. to unveil a minor deceleration in growth to a still above-trend 2.0% rate, down 0.1pp from the advance release.

• “Separately, the advance goods trade balance likely remained unchanged at the start of Q3, posting a deficit at USD -74.4bn in July. This would stand modestly below the average for Q2, suggesting an initial drag by the external sector on Q3 activity.”