Economic calendar: Speeches from SNB and ECB chiefs, Canadian retail sales

• European indices set to open higher

• Canadian retail sales, US existing home sales data

• Speeches from SNB and ECB chiefs

Futures markets point to a slightly higher opening of the European cash session today. This comes after an upbeat Asian session earlier today and in spite of a downbeat US session yesterday. Antipodean currencies (AUD and NZD) are top performers among G10 currencies while GBP is top laggard following a miss in retail sales data for December. Oil is trading a touch higher while precious metals trade mixed.

Economic calendar for the day ahead is rather light but includes some second-tier data that may trigger market moves. CAD traders will focus on retail sales data for November (1:30 pm GMT) while USD traders will tune in for existing home sales data for December (3:00 pm GMT). Speeches from central bankers may also be a source of additional volatility for currencies as we have speeches from SNB President Jordan and ECB President Lagarde on the schedule.

9:00 am GMT - Poland, jobs report for December.

• Employment change. Expected: 2.3% YoY. Previous: 2.3% YoY

• Wage growth. Expected: 12.5% YoY. Previous: 13.9% YoY

1:30 pm GMT - Canada, retail sales for November.

• Headline. Expected: -0.5% MoM. Previous: +1.4% MoM

• Ex-auto. Expected: -0.9% MoM. Previous: +1.7% MoM

3:00 pm GMT - US, existing home sales for December. Expected: 3.95 million. Previous: 4.09 million

Central bankers' speeches

• 8:00 am GMT - SNB President Jordan

• 10:00 am GMT - ECB President Lagarde

• 11:00 am GMT - Riksbank Breman

• 2:00 pm GMT - Fed Harker

• 3:30 pm GMT - ECB Elderson

• 6:00 pm GMT - Fed Waller

Top US earnings releases

• Schlumberger (SLB.US) - before market open

• State Street Corporation (STT.US) - before market open