European Economic News Preview: Germany Ifo Business Confidence Due

Business sentiment survey results from Germany and retail sales from the UK are due on Friday, headlining a busy day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK retail sales data for February. Sales are forecast to fall 0.4 percent on month, in contrast to the 3.4 percent rise in January.

In the meantime, import price data is due from Germany. Economists forecast import prices to fall 7.4 percent annually in January after decreasing 8.5 percent in December.

At 4.00 am ET, Germany's ifo business confidence survey results are due. The business confidence index is expected to rise to 85.9 in March from 85.5 in the previous month.

At 6.30 am ET, Russia's central bank announces its monetary policy decision. The bank is widely expected to hold its benchmark rate at 16.00 percent.

At 7.00 am ET, the Confederation of British Industry publishes Industrial Trends survey results. The order book balance is forecast to remain unchanged at -20 percent in March.