Just like last week, today sees a very quiet start, with very little fundamental news on the economic calendar for today, with only three main items affecting the euro dollar pair, all of which are in Europe with no data scheduled for release in the US later.The first set of numbers to be released were in Germany this morning, with the GFK consumer climate data, a composite index based on a survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, climate for major purchases, and the overall economic situation. This is generally considered a leading indicator of consumer spending, and is released monthly around the end of each month, with this mornings figures coming in marginally better than expected at 2.5, against a forecast of 2.3. At the same time German import prices were also released, and in contrast to the above, showed a decline in the price of imported goods purchased for domestic use, and coming in worse than expected at -0.4% against a forecast of -o.2%, registering their biggest drop in 22 years as the cost of energy fell, largely due to the fall in crude oil prices during the period. With no fundamental news in the US, the final item for today is a speech by ECB President Trichet this afternoon about strategic trends in global finance at the Foreign Policy Association, Royal Institute of International Affairs and British American Business Joint Conference, in New York, and as always his comments will be carefully watched by currency and market traders for any signals regarding future policy and interest rate decisions by the ECB.

The remainder of the week is much busier, starting tomorrow with a slew of economic data for both the Euro and the US dollar, and on Wednesday the key announcement will be the FOMC statement and interest rate decision due in the evening UK time, so we have an interesting week ahead after today’s quiet start.You can keep up to date with all the latest fundamental news, latest currency news and live currency charts by simply clicking the relevant links.  In addition I also provide details of an excellent and innovative ECN broker.