Furthermore, rising housing starts and building permits in the U.S. should help the market, the bank continued.

FORBES: Average Base Metals Prices Expected To Fare Better In Coming Quarters; Gains Seen As 'Moderate'

Last Wednesday, we learned that housing starts and building permits for new home construction posted unexpected declines.

FORBES: Bad Housing Data Yields Opportunities

Tuesday will feature July housing starts and building permits, July industrial production and capacity utilization, and July import and export prices.

FORBES: Why You Should Be Calmer Than Mr. Market

U.S. economic data due for release Thursday includes housing starts and building permits data, the weekly jobless claims report and the Philadelphia Fed business outlook survey.

FORBES: Comex Gold, Silver Near Steady as Conflicting Forces Tug at Markets

Tuesday will feature August housing starts and building permits.

FORBES: Current Highly Correlated Stock Returns Are Temporary

In the US, investors await data on building permits and housing starts, which is to be released before the start of trading.

FORBES: MCD Hires, Asia Lower, Europe Stronger and the Day Ahead

The Housing Market Index from the National Association of Home Builders continues to make new post-recession highs, while building permits and housing starts are markedly increasing.

FORBES: Avoiding the Sidelines

Separately, data showed Wednesday that housing starts rose to a seasonally adjusted annual rate of 584, 000 in November at the fastest rate since May, and building permits increased at their fastest clip since November 2008.

FORBES: Street Rallies Ahead Of Fed