5 Things to Know in the Market Today

1. Busy day on the U.S. economic calendar

Investors focused on the next set of U.S. data to see whether it supports expectations that the Federal Reserve will raise interest rates before the end of the year.
The most important piece of data Thursday are August retail sales at 8:30AM ET (12:30 GMT). The consensus forecast is that the report will show retail sales dipped 0.1% last month, after holding flat in July. Core sales are forecast to inch up 0.2%, after falling 0.3% a month earlier.

2. Bank of England rate decision in focus

The Bank of England will release its rate decision and minutes of its Monetary Policy Committee meeting at 11:00GMT (7:00AM ET) on Thursday.
Market analysts expect the BoE to stand pat on policy after a slew of robust data in the past few weeks saw fears of a recession in the near term abate.

3. Swiss National Bank keeps rates on hold

The Swiss National Bank left its benchmark interest rate unchanged at record-low levels and reiterated that it is still prepared to take further action to weaken the franc, it announced on Thursday.
The SNB kept its benchmark interest rate unchanged at -0.75%, in line with expectations. The central bank also left the target range for the three-month Libor unchanged at between -1.25% and -0.25%.

4. Oil prices edge higher but glut concerns intensify

Oil prices edged higher after briefly falling to a two-week low on Thursday, as a planned resumption of oil exports by Libya and Nigeria added to concerns over a global supply glut.
U.S. crude was up 15 cents, or 0.35%, to $43.73 for a barrel.

5. Global stocks struggle for direction with oil, central banks in focus

U.S. stock index futures pointed to a marginally higher open on Thursday morning, ahead of a raft of data that could influence the case for the Federal Reserve to raise interest rates.

Read more:

• Economic calendar for the European and American trade sessions 17.05.2018
• Australia – Unemployment rate above expectations 5.6% vs 5.5%
• CAD is the only currency in G-10 with positive quarter against USD
• UK – Halifax house prices below expectations -3.1% vs -0.2%
• Economic calendar for the European and American trade sessions 07.05.2018