In the US session Unemployment Claims and ISM Manufacturing PMI figures were released. In the week ending January 27, the advance figure for seasonally adjusted initial claims was 230,000, a decrease of 1,000 from the previous week's revised level. The previous week's level was revised down by 2,000 from 233,000 to 231,000. The 4-week moving average was 234,500, a decrease of 5,000 from the previous week's revised average.  The advance seasonally adjusted insured unemployment rate was 1.4 percent for the week ending January 20, unchanged from the previous week's unrevised rate.

The January PMI registered 59.1 percent, a decrease of 0.2 percentage point from the seasonally adjusted December reading of 59.3 percent. Comments from the panel reflect expanding business conditions, with new orders and production maintaining high levels of expansion; employment expanding at a slower rate; order backlogs expanding at a faster rate; and export orders and imports continuing to grow faster in January. Supplier deliveries continued to slow (improving) at a faster rate. Price increases occurred across all industry sectors. The Customers’ Inventories Index indicates levels are still too low. Capital expenditure lead times increased 8 percent during the month of January.

Tomorrow's session will bring UK Construction PMI figures. Analysts forecast small decline to 52.0 In the US session NFP report will be published. Number of employed should increase by 181,000, while Unemployment Rate should remain unchanged at 4.1.%.

Figures to watch:

Construction PMI (Friday 10:30)

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)