WORLD HEADLINES – The pound retreated against its major peers before a Bank of England decision that may deliver the first interest rate cut in seven years. Stocks rose in Europe and Asia as oil clung to most of the gains from Wednesday’s rally.

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STOCKS – S&P 500 futures were little changed, after U.S. equities Wednesday snapped a two-day losing streak amid the rally in oil prices.

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BONDS – Treasuries were little changed, with yields on notes due in a decade steady at 1.55 percent. Ten-year rates jumped at the start of this week, as the record-setting rally in global bonds appeared to falter.

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COMMODITIES – Wheat added 1.3 percent as use of the crop to feed cows, chickens and pigs is set to rise to the highest level since 2007 after heavy rains in France left crops unfit for human consumption.

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CURRENCIES – Traders are bracing for the BOE to provoke share price swings — a measure of overnight volatility for sterling against the dollar was near the highest since Britain voted to leave the European Union in June.

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ECONOMIC DATA – GBP Monetary Policy Summary due at 7:00, BOE Gov Carney Speaks at 7:30, US Unemployment Claims at 8:30, Factory Orders m/m at 10:00, Natural Gas Storage at 10:30, AUD RBA Monetary Policy Statement at 21:30 ET.