SNB the main highlight of the agenda in the session ahead ...Middle East

In terms of market pricing, it is literally a 50-50 call at the moment. The OIS market is pricing in an exact split between a 25 bps and 50 bps rate cut currently. So, that's important to take note of even if the "expectation" is for a 25 bps rate cut.The SNB would prefer a weaker franc at this stage and they've been quite vocal about it. But if they are to move by 50 bps just for that, they're also eating away at any more buffer room to cushion against further blows to the economy moving forward. It's a fine balance.I mean, they could just go with 25 bps and then start labelling the franc as being "overvalued" again too. That will be a clear message to markets as well that they are willing

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