What are the main events for today?

In the European session, the UK retail sales report was a major highlight, disappointing expectations and creating slight pressure on the pound. However, this does not significantly alter the BoE's focus on inflation. Upcoming low-tier releases like French PPI and Italian consumer confidence are not expected to impact the ECB or the market significantly. In the American session, only the Canadian retail sales report will be of note, but this is unlikely to change anything for the BoC. The BoC has concluded its easing cycle and is observing the economy's evolution. The market, however, has started to price in rate hikes for 2026 after several strong employment reports. ECB speakers are also scheduled throughout the day, with varying stances, adding a level of uncertainty for traders.