To say that there is little fundamental news on the economic calendar for today is really an understatement, and a far more realistic assessment would be that there is none in the US and only two minor items in Europe for the euro vs dollar.  All the markets (without exception) are now waiting for a catalyst which could, when it arrives, change market sentiment dramatically, and this could be towards the middle and end of the week when we have the FMOC statement and US GDP coupled with the Treasury Auction.   Whilst they are all important for the currency market the result of the Treasury Auction will be of particular significance as it is a vote of confidence (or otherwise) in the quantitative easing strategy and hence the viability of the US Dollar.

There are two items of news in Europe, the first of which is yet another sentiment indicator for Germany with the IFO Business Index which once again suggested that confidence is improving which is in complete contrast to the broader economic picture.  Secondly we have a speech by ECB President Jean Claude Trichet later this morning who is due to speak in Madrid at the New Economy Forum.

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.