A curious start to the week for the euro to dollar forex pair, with very little real fundamental news on the economic calendar tomorrow, but instead we have several speeches from FOMC members and between these is an address from President Obama in the US markets. For Europe there are two items of news which start with the Industrial Production figures followed by the Employment Change, with the first of these forecast at -0.3%against a previous of -0.6%. The figures tend to have a relatively muted impact on the forex markets as both Germany and France which constitute over 50% of the European economy, release their figures earlier, and whilst this is considered a leading indicator, the effects are low key for the euro to dollar, and other forex pairs. The only other item for Europe is the Employment Change which is forecast at -0.8%, but again this will have limited impact on the euro dollar.

The afternoon in the US for fundamental news is punctuated by speeches starting with FOMC member Duke, followed by President Obama, and completed with a speech by FOMC Lacker and finally FOMC member Yellen. All four speeches cover some aspect of the financial crisis, so we could see some interesting reactions in the forex markets tomorrow, and indeed many forex analysts and forex market commentators are now suggesting that we may see a significant shift in the US dollar sentiment which is now widely believed to be oversold, and the speeches on Monday could provide the trigger for the US dollar to stage a recovery.

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