Only two items of fundamental news on the economic calendar in Europe for today, which have already been released, firstly the French CPI which came in bang on target at 0.2% followed by the European Industrial Production figures which were released a few minutes ago and coming in significantly worse at -2%, against a forecast of -0.9% with the euro falling back on the news.  There are several items of news in the US later today, starting with retail sales (both core and complete), import prices, business inventories and finally crude oil inventories, with the day rounding off firstly with a speech from FMOC Lockhart, and followed by BUBA President Webber.

Starting with the first of these announcements, core retail sales are forecast to steady this month, improving to +0.1% from a previous of -1.0%.  The core figure is generally considered a better gauge of spending trends as it excludes car sales and if the number is better than expected then this could be good for the US dollar.  The retail sales figure is expected to come in at 0%, again showing an improvement on the -1.2% of last time.   The next release is import prices which are expected to remain flat at 0.5%, as this measures the change in the price of imported goods and services purchased for domestic use.  Following this we have business inventories which are forecast at -1.1% reducing slightly from last time at -1.3% suggesting that the total value of goods held in inventory is falling which could signal an increase in future spending.  Finally on the fundamental news front we have crude oil inventories which are expected to show an increase once again from 0.6m barrels last time to 1.1m barrels this time.  With oil prices apparently trading on sentiment at the moment rather than on supply and demand facts, it is hard to tell what effect this news release will have.

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.