Home » Euro to Dollar News » Euro To Dollar – Fundamental News For Trading Currency Pair

Euro To Dollar – Fundamental News For Trading Currency Pair

In complete contrast to yesterday, today and tomorrow we have a complete smorgasbord of fundamental news on the economic calendar for both Europe and the US which should inject some life into the forex market.   The day kicked off with French, German and Europe Flash Manufacturing and Services PMI data which all came in better than expected.  The Flash Manufacturing and Services PMI data is based on a survey of purchasing managers in the manufacturing industry and asks them to rate current business conditions for employment, production, new orders, prices, supply, deliveries and inventories.   This data is released monthly and in general if the figures are better than expected this is good for the euro and indeed in this morning’s trading and following the results the euro to dollar is now trading higher at $1.3064.  Details of the actual numbers are available on the economic calendar.

The PMI was followed by industrial new orders which too came in better than expected at -0.6% against a previous of -2.4% which is generally considered a leading indicator for new orders, with any increases signaling good news for the economy.  Following this raft of data in Europe we move to the US where the Department of Labor issues its weekly unemployment claims which are expected a rise once again to 635k, up from last time at 610k.  This number represents the number of new claims for unemployment insurance during the previous week and is a “red flag” indicator for the markets.   Following these numbers we move back to Europe for the Belgian NBB composite index which provides a view of the business climate and is generally considered another leading indicator, and is based on a survey or around 6000 businesses.  A figure above zero indicates an improvement in economic outlook whilst below denotes a worsening picture, and the forecast is for -27.8 against a previous of -28.6.

We finish the currency trading day by moving back to the US for another important indicator, namely existing home sales which measures the number of residential homes sold during the previous month.  Once again this is considered a leading indicator of the economy and the forecast is for a slight fall from last month down to 4.68m against a previous of 4.72m.  If the actual is better than forecast then this could be good for the US dollar. Finally we have the EIA (Energy Information Authority) issuing the natural gas storage data for the week which tends to have more of an impact on the usd to cad pair.

You can keep up to date with all the latest fundamental news, latest currency news and live currency charts by simply clicking the relevant links.  In addition I also provide details of an excellent and innovative ECN broker.