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.
There will be no data releases from the USA on Monday with banks being closed in observance of President's Day holiday. However, some volatility could be brought by ECB President Mario Draghi who is dueto testify on monetary policy before the European Parliament's Economic and Monetary Affairs Committee, in Brussel.
Figures to watch:
ECB President Draghi Speaks (Monday 15:00)
