Home » Euro to Dollar News » Euro vs Dollar – EUR/USD Fundamental News Today 1st July 2009

Euro vs Dollar – EUR/USD Fundamental News Today 1st July 2009

Another relatively quiet day for fundamental news on the economic calendar for the euro vs dollar currency pair as the markets wait for the build up to tomorrow’s ECB rate decision coupled with the NFP numbers which should make for a torrid trading session.  However, we do have an amuse bouche to look forward to this afternoon in the shape of the ADP numbers.    Meanwhile in Europe this morning we saw German retail sales coming in slightly better than expected at 0.4% and showing their third consecutive increase in a possible sign that lower inflation rates are encouraging German consumers to spend.  The only other item of news for Europe were the final manufacturing PMI numbers which came in at 42.6 against a forecast of 42.4 – statistically insignificant.

Attention then shifts to the US where in addition to the ADP numbers which are forecast at -388k (a big fall from last month’s 532k), we also have the ISM manufacturing PMI data which is forecast at 44.5 from 42.8 and inching  ever closer towards the magic 50, perhaps suggesting that the worst may indeed be over.  This data is released at the same as pending home sales which are forecast at 0.7% against a previous of 6.7%.   Later in the trading session the fundamental news continues with construction spending, ISM manufacturing prices, the crude oil inventories and total vehicle sales which are being released throughout the day from the various manufacturers.  Finally in amongst this melange we have FOMC Charles Evans speaking on the Credit Crisis and Policy Actions at a conference in London.

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.