Today’s fundamental news on the economic calendar is characterised by plenty of hot air and little in the way of substance we have both a G20 and G8 meetings in Berlin and in the delightful city of Lecce in Southern Italy respectively (Skegness missed out yet again!) in order to put the financial world to rights.    Having said that there have been several items of minor news in Europe including German WPI which came in on target at 0.1%, French CPI which also came in on target at 0.2% and the French Government Budget Balance Figure which came in substantially worse than last time at -71.9bn against a previous -43.7bn.  This was followed by the Industrial Production figures for Europe which came in considerably worse than expected at -1.9% against a forecast of -0.4% and as a result industrial production plunged to a new record low, shrinking by more than a fifth in April compared with a year earlier.  Overall production fell across Europe by almost 22% which exceeded a previous record decline of 19% in March, so a further set of disastrous fundamental figures.

The US fundamental news centres on import prices due out shortly followed by the University of Michigan Consumer Sentiment Index coupled with inflation expectation.  Throughout the day all fundamental news items are sandwiched between various statements from the finance ministers, not least from ECB President Trichet who is due to speak at 12.30 GMT and again at 16.30 GMT on a variety of topics.

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.