There is only item of fundamental news on the economic calendar worth writing about today for the euro to dollar currency pair, and this is the Non Farm Payroll Data due out shortly.  Its effect cannot be underestimated if only that it proves, once and for all, the cat’s cradle that is the financial markets, but today’s numbers may prove to be pivotal for the US dollar rather than the usual frenzy which is immediately forgotten by Monday!!   Should the numbers come in better than expected then this should prove beneficial for equities as the market has proof positive that the worst is definitely over and the recent stock market rally has been founded on solid fact rather than mere sentiment and wishful thinking, low volumes notwithstanding.   This picture would also suggest that the worst of the downturn in the housing sector is over and that a stable housing market could even feed through into accurate pricing for the sub prime mortgages still sitting on the Banks’ balance sheet.  In addition it could signal that the great American consumer is now ready and able to start spending once again.   The consequence of this scenario is that the US Dollar would continue to weaken across the board and push the Euro higher.    However, if the number is worse than expected then clearly the worst is not over, the consumer is not ready to start spending once again and equity markets could suffer a serious correction.   This could lead to a bounce back in the US Dollar which would trigger falls in commodities and the Euro.

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.