The European Central Bank held interest rates at a record low on Thursday and is expected to keep its liquidity safety-net for banks in place.

Major countries and zones are releasing their manufacturing PMI on today’s fundamental calendar.

On Monday the market has seen various economic data points which were indicative of a sluggish worldwide economy.

British economy recorded a faster than expected GDP growth in the second quarter of this year hitting a nine-year high, ONS data showed on Friday.

New U.S. jobless claims fell more than expected last week but were too high to signal a shift in a weak labour market according to the data from the Labour Department on Thursday.

Euro zone industrial new order growth slowed less than expected in June, the European Union’s statistical agency Euro stat said on Tuesday.

Although there are no major U.S. data scheduled for release on Friday, the market is still suffering from yesterday’s jobs disappointing data.

It seems that not only U.S. is reporting a slower recovery as the pace of Canada’s recovery appears to be losing momentum based on today’s reports.

The Monetary Policy Committee released its minutes for voting on the interest rate decision in August. The vote was - as expected - 1-8 which means no rate change.

Consumer price inflation slowed in July but as expected remained above 3 percent, according to the Office for National Statistics.