Today will likely be a boring day on the news front. On the calendar, we don't have any market moving event as the final CPI reading for Spain and the US MBA Mortgage Applications data won't change anything in terms of expectations.The focus will continue to be on Fedspeak with Fed's Goolsbee set to speak at 17:00 GMT/13:00 ET. He's a voter and has been leaning on the neutral/slightly dovish side. We have also Fed's Barkin and Fed's Bostic today but they are unlikely to be important because not only we already heard from them recently but they are not even voters. Looking ahead, it's just about Fedspeak now and Fed Chair Powell at the Jackson Hole Symposium before the critical event in September when we get the NFP report. As of now, a cut in September looks unavoidable and only a hot NFP report in September could get the probabilities back to a 50% chance (98% now).This could set the stage for the next policy mistake, but that's for another day... This article was written by Giuseppe Dellamotta at investinglive.com.