Starting with the Bank of England, where a debate was there if they will cut a quarter point basis this month or if they are gonna wait for another month to see the effect of last month's cut, it Is always debatable what the MPC might do, yet a steady rate will not be surprise in this case, a cut will be, and as we know it is customary for King and his fellas to give the market some treats.

The ECB on the other hand left no room for speculators to think about a rate cut, with their consistent focus on price stability, and what we've witnessed earlier from inflation increases, I think the ECB will remain on its hawkish stand, no major changes will take place in the current situation, especially that their growth didn’t got that much affected by the crisis, at least not as much as the UK and the United States.

Both the European currency and the British Pound are gaining heavily against the dollar since the beginning of the week, and today news will be either a supported or an opponent to the current trend, that will be valid till tomorrow's U.S. job's report.

Tomorrow will be the judge of the market, and it will be the driver for a while, we all are waiting to find out what economies started to suffer recession, and who are the ones trying to avoid it, and who are the ones that are on the right track towards it??!!