A relatively quiet day for fundamental news on the economic calender today, both for the Europe and the US, with the only items of  European data being the German Unemployment numbers followed shortly afterwards by the Consumer Confidence data. The first of these is forecast at 44k against a previous of 31k, and measures the change in the number of unemployed people during the previous month – always a key number as Germany is generally considered to be the powerhouse of Europe. Should these numbers be better than expected then this may help ease the Euro higher this morning. The Consumer Confidence Index is yet another sentiment indicator ( of which there are many) which are supposed to provide a guide to how consumers “feel” about the current economy with any figure below 0 indicating a negative feeling, and above zero is positive – the forecast for today is -24, little changed from last time at -24.

The most significant number for today will be the US weekly Unemployment claims, which are forecast to be worse than last week at 573,000, an increase of 19,000 week on week.  Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health since consumer spending is highly correlated with labor conditions. Should the numbers be better than expected then this may help the US dollar push higher later today.

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.