While the U.K on the other hand seems to be suffering the aftermath of the worst financial crisis in the United States since the Great Depression and intensified by a domestic weakness to their housing market to make the situation a lot similar to what was going on in the United States early in 2007.

The U.K industrial and manufacturing sectors are still pointing for further weakness and could highlight further downside pressures to economic growth, industrial production fell 0.5% in March after rising 0.3% the prior month, while compared with a year earlier production rose only by 0.2% down from the prior 1.3% rise.

Manufacturing production also dropped in March by 0.5% after rising 0.4% in February, while compared with a year earlier manufacturing production rose only 0.6% after rising by 1.9%, all reading from both sector came below median estimates, and might support some market players' point of view as they expect the BOE will be forced to cut their rates further tomorrow to help economic growth even as inflation risks remain to the upside.

The Euro Zone released their retail sales for March showing an unexpected fall, as over the month retail sales dropped 0.4 percent after dropping 0.5% the prior month and well below the 0.1% gain expected by analysts, while compared with a year earlier sales dropped 1.6% after dropping 0.2% the previous month and below the 0.6% fall expected.

The falling sales in the Euro Zone might underline further weakness in their economic activity, yet rising inflation which reached a 16-year high in March might be the reason for this drop in sales, the ECB are expected to maintain their rates steady at 4.00 percent tomorrow, yet if the 15-nation economy starts to suffer sharp slowing in growth levels, this could lead the ECB to start thinking about cutting rates rather than keeping them stead as hinted before.

The outlook so far remains unchanged in both economies, the BOE are trying to find their balancing act between growth and inflation, while the ECB remained focused on inflation, should any change occur tomorrow, the reaction could prove to be huge, so watch out dear reader for there's always a room for surprises especially since the BOE are involved here