SNB meeting and UK retail sales to add some spice into markets

Happy Thursday, everyone! Hope you're all doing well as we get things going in European trading later. It's been a bit of a tepid start to the day but we have seen the kiwi rise on the back of solid Q2 GDP figures here.

Asian stocks are looking less buoyant as Wall St calms down as well. However, Tilray was the spotlight stealer in equities trading overnight. At its peak the company was worth more than American Airlines, can you imagine that?

Anyway, the session ahead promises to be a bit more exciting with some key events on the agenda. But once again, it'll be all about headline trading when it comes to markets. US-China trade, Brexit, NAFTA, Italian budget. Fun times.

0600 GMT - Switzerland August trade balance data

Prior report can be found here. A minor data point. The Swiss economy has been moving along just nicely in 2018 and so far global trade tensions have done little to disrupt that. The release here is not a market mover by any means.

0730 GMT - SNB announces its monetary policy decision

Prior decision can be found here. The SNB isn't going to tweak its policies in this meeting and the focus coming into this is all about the swissie. Economic growth is improving while inflation has shown signs of life. The last thing the central bank needs is for the Swiss franc to spoil the party. The question now will be are they willing to verbally intervene in an attempt to drag it lower? SNB head Thomas Jordan will be delivering his usual press conference after the statement is released.

0830 GMT - UK August retail sales data

Prior release can be found here. Since May, retail sales has been one of the bright spots in the UK economy - thanks to the Royal Wedding, World Cup, and summer time conditions. August figures are expected to reflect a mild slowdown as summer comes to an end so let's see if the data here still has the capacity to offer more upside surprises. Much like the inflation report yesterday, expect the pound to react in kind depending on the size of the miss/beat but at the end of the day, it's all about Brexit headlines when it comes to trading the pound.

That's all for the European session. I wish you all the best of days ahead and as always good luck with your trading!