While the cable was under pressure, UK Q3 GDP came last Friday to show growth decelerating to 0.5% q/q as expected following growth by 0.7% in the second quarter with yearly expansion by 2.3%, after 2.4% in the second quarter.

The cable downside momentum has increased again last week following BOE's chief Mark Carney's testimony about the inflation in front of the parliament treasuries committee.

Carney has shown that there is hope for rising inflation in UK with improving of the productivity but he did not hide his worries about the consuming spending when the MPC to start hiking the interest rate.

God willing, Q3 US GDP figure will be in focus today with expected upward revision to show 2% annualized growth, after the preliminary reading had shown decelerating to only 1.5% following growth by 3.9% in the second quarter.

After last October FOMC meeting, The committee has chosen to cool the worries about the US economy because of the global economic slowdown saying merely following last meeting that it will monitor the global developments, while the economy is running by a moderate pace amid balanced risks.

 It has been considered direction to downplay the global economic slowdown risk, as it said in September that the global developments may restrain the growth of the US economy.

The common currency started to attract the market attention again by the end of last week, after The ECB president Mario Draghi assured on the ECB's readiness to take more stimulus measurements saying that "ECB Will Do What It Must to Spur Price Gains".

Oct EU CPI came last Monday showing rising by 0.1% y/y following falling in September by 0.1%, while the ECB inflation target is 2% yearly or what's close but below it.

This current low inflation level which is far from this rate drove Draghi to repeat several times since the recent ECB governing council meeting on last Oct. 22 that "there will be reassessment of the QE impact next December" raising the odds of taking new easing decision.

Most of EU Major equities indexes could get over Paris terror attacks closing the green territory, while CAC 40 which was attracting the markets eyes was having vacillating performance in the beginning day of the week, before closing it 3 points down.

The performance of US major stocks indexes were pretty obvious taking a way up supported the risk appetite by the closing of the EU session.

 After opening barely in the red territory following the Paris terror attacks, S&P 500 has spent its first session of the week creeping up supported by energy prices rebound in the beginning of the new week to engulf last Friday falling by a long white day giving reversing sign.