“The steep monetary slowdown and importunate financial market volatility that caused the European Central Bank to cut rates by 50 basis points to 3.25 percent, shows there is chances for this index to drop below perhaps it can reach a new low, since the existing record low of -63.9 was set just this past July.” per the German ZEW survey of economic sentiment,
 
In the UK the BOE’s newest policy declaration subsequent to their destructive 150 basis point rate cut, seems to express their concern about the possibility for deflation, and if inflation reports confirm this expectation, this news might possibly trigger a huge sell off of British pounds.

The unemployment claims in the UK is expected to rise for the 9th subsequent month in October.  This provides the evidence that the mixture of a declining global economy, and sharp decrease in domestic consumption and the nonstop fall down of the UK housing division is liable to have the UK economic contraction continue for a lengthy amount of time.

The discharge of Euro-zone CPI caused a considerable notice and flashed a lot of volatility to the euro.  The European Central Bank has moved its focus away from inflation towards the regional and economic slowdown. Consequently, the Euro-zone Q3 GDP is expected to have a lot of attention than the Euro-zone CPI at 5:00 ET. And it is forecasted to slump 0.2% than the previous quarter.  If CPI drops in line per the forecast or more than the forecast to 3.2% to 3.6%, it will probably trigger huge loss for the Euro.

In the US “Sales actually thinned 0.9% in October from a year earlier, causing the first negative result since March 2008 and the bad reading since April 2007.” Per the International Council of Shopping Centers (ICSC)

The apparel and departmental stores sales dripped roughly to 12 percent approximately from a year before when the luxury component fell to 19.2 percent.  The wholesale and discount sales dripped significantly at a weaker pace, signifying that clients are economizing in shopping. 

The probable downside risk is pretty much visible in the three major countries round the world.  News expressions with carry trade can probably propel carry trade where the low-yielding currencies like US dollar can go higher.