Live news: US mortgage rates hit highest level since 2000

GDP: The US will release its final estimate for its second-quarter economic growth, with economists polled by LSEG expecting gross domestic product to hold steady at its second reading of a 2.1 per cent annualised increase.

Fedspeak: US Federal Reserve chair Jay Powell will speak before educators in Washington at 4pm Eastern time. Earlier in the day, Fed governor Lisa Cook will give closing remarks at a forum on minorities in banking, hosted by the central bank’s Dallas branch.

Jobless claims: Initial claims for US state unemployment benefits, a proxy for lay-offs, are expected to have risen to 215,000 last week from 201,000 the prior week, as the labour market continues to show resilience despite the Fed’s efforts to squeeze the economy.

Mexico rates: Mexico’s central bank is expected to hold its benchmark interest rate steady at 11.25 per cent. Banxico last raised rates in March.

Biden: US president Joe Biden will visit Arizona to deliver a speech on democracy in honour of former senator and ex-Republican presidential nominee John McCain.