Home » Euro to Dollar News » Euro to Dollar – Fundamental News EUR/USD 3rd August 2009

Euro to Dollar – Fundamental News EUR/USD 3rd August 2009

A busy week for fundamental news on the economic calendar this week for the euro to dollar, with ADP in the US on Wednesday, followed by an ECB decision on Thursday and, of course, ending the week with NFP on Friday, so a hectic  week  of news!  This morning the news started early in Europe with the release of the German Retail Sales figures which came in worse than expected at -1.8% against a forecast of 0.4%. denting any hopes of a speedy economic recovery and worse than last month’s figures, so despite some positive news from Germany in the last few weeks this has taken the gloss off the recent rosy picture.  This was followed by the final manufacturing PMI data (yet another diffusion index) which was marginally better than expected at 46.3 against a forecast of 46, which completed the news for Europe.  We are now awaiting the most important number for today, which is the equivalent in the US, issued by the ISM and forecast at a very similar level to that of Europe at 46.4.  Allegedly if the actual is better than forecast then this is supposed to be dollar positive, however, current market sentiment is very much focused on risk appetite.  If the number is higher than expected then investors will more likely turn to riskier assets, such as equities which will be at the expense of the US Dollar.  In addition to the above we also have some minor data including construction spending, ISM manufacturing prices, and finally vehicle sales all of which should give the market an indication as to whether the US government monetary stimulus plan is in fact beginning to work.

You can keep up to date with all the latest fundamental news on the economic calendar, latest currency news and live currency charts by simply following the links.  I have also included details on an excellent ECN broker.