UK retail sales

 Global indexes pull the Asian stocks, as investors took a less bearish view on the impact of the U.S.-China trade war on markets, a sharp contrast to dim expectations economists had on U.S. growth amid the worsening tensions. U.S. shares had been boosted Wednesday by expectations that the impact of the Sino-U.S. trade war would be smaller than feared, with the U.S. fiscal policy package potentially outweighing any negative impact.

In Geopolitical Scene United States said it was ready to resume talks with North Korea after Pyongyang pledged on Wednesday to dismantle its key missile facilities and suggested it would close its main Yongbyon nuclear complex if Washington took unspecified actions.

In currency markets, US dollar remained on the back foot across the board, underpinning the sentiment around most majors. EURUSD inched up 0.01 percent at 1.1670, rose to its weekly highest $1.3220, its highest since July 26. USDJPY was lower by 0.1%.

In commodities, U.S. crude added 0.77 percent to $71.67 a barrel, on top of a jump that came after new data showed U.S. crude inventories fell 2.1 million barrels last week, its fifth weekly drawdown, to 394.1 million barrels. Brent crude was 0.3 percent higher at $79.67 per barrel. A weakening dollar continued to push gold higher. Spot gold was trading up 0.2 percent at $1,205.25 per ounce.

Heading into Europe, the EUR, GBP traders will see the Swiss trade figures dropping, followed by the Swiss National Bank (SNB) quarterly monetary policy assessment and interest rate decision due to be announced. The SNB is unlikely to make any changes to its monetary policy settings. However, a mild dovish tone is expected in its policy statement, as the Swiss central bank looks to cap further appreciation in the Swiss Franc. The main market-moving event for today remains the UK retail sales. Alongside, the macro news, the Brexit-related developments will also have a significant impact on the GBP markets.