From the UK, on Friday, Construction Output data was published. In December 2015, output in the construction industry was estimated to have increased by 1.5% compared with November 2015 due to an increase of 2.6% in all new work. This was offset by repair and maintenance which decreased by 0.5%. When comparing the annual 2015 data with 2014, output in the construction industry was estimated to have increased by 3.4%. All new work increased by 6.8% while repair and maintenance decreased by 2.2%.
US session was marked by
Retail Sales and Consumer Sentiment figures.Retail sales increased for a third straight month in January as Americans kicked off 2016 by spending freely on cars, clothing and online merchandise.
The 0.2% increase matched the previous month’s advance that was initially reported as a decline, Commerce Department data showed Friday. The median forecast called for a 0.1% gain in January. Excluding cheaper gasoline, which depressed service-station receipts, purchases climbed 0.4%.
The University of Michigan’s preliminary index decreased to 90.7 from 92 in January, a report showed Friday. The median projection called for 92.6. While sentiment cooled for a second month, so did households’ long-term inflation expectations, which declined to the lowest in records to 1979. A weakening of sentiment reflected the impact of the recent turmoil in equity markets, fueled by everything from declining oil prices to a dimmer global outlook.
With no data releases from the UK on Monday and with US banks being closed in observance of President's Day holiday we can expect steadier beginning of the week, with traders being cautious ahead of CPI and job figures scheduled for a release from the UK later in the week.
