Research Team at TDS, notes that the UK construction output fell by 0.2% m/m in January, broadly in line with their expectations of a flat reading. Key Quotes “New work fell by 0.8% m/m while repairs and maintenance increased by 0.8% m/m. Public new work in particular led the month lower, falling over 10%, while private sector new work rose 0.6% m/m. Trade data was also released, showing the visible trade balance roughly as expected, but significant downward revisions to December’s data meant that January showed an improvement in the deficit, against expectations of a deterioration. The improvement came from a deterioration in imports, however, rather than an increase in exports. Finally, the BoE released its quarterly BoE/TNS Inflation Attitudes Survey, which showed long-term inflation expectations unchanged from November, while year-ahead inflation expectations posted their lowest level since 1999.” For more information, read our latest forex news.