A quiet day in Europe for fundamental news on the economic calendar today, as the markets now wait for Thursday’s ECB decision, with only one piece of data due for release this morning, namely the PPI numbers month on month. These are forecast at 0.2% ( positive from last time’s -0.2% ) and the data measures the change in the price of finished goods and services sold by producers in the euro zone. It  generally tends to have a muted impact because Germany and France, which account for about half of the Eurozone’s economy, release their PPI figures earlier.

The only significant release in the US this afternoon are the Pending Home sales figures which measure the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction. The data is normally released 15 days after Existing Home Sales, but it tends to be more forward looking as a contract is signed several weeks before the home is counted as sold, and as a result is generally considered to be a leading indicator for the economy. The forecast for this afternoon is 0.6%, marginally better than last time at 0.1%, and should the numbers come in better than expected then the poor old US dollar will no doubt weaken further as investors rush into equities once again at the expense of the dollar. Other minor items of fundamental news include the Core PCE price index, Personal Spending and Personal income, details of which can be found in the economic calendar.

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.