Today’s fundamental news on the economic calendar for the euro to dollar is dominated by the US market with no news released in Europe today whatsoever.  In the US, on the other hand, there are no less than 8 key pieces of fundamental news starting at 1.30 pm GMT with both Core and Retail Sales, PPI and Core PPI.   Core retail sales measures the change in total sales excluding cars which generally represent around 20% of the market, and as a result the core figure generally provides a more accurate indication of spending trends and is therefore keenly awaited for any signal of “green shoots of recover”.  The figures are expected to be marginally better than last time at 0.1% against a previous of 0.7% and if the actual is better than forecast this could strengthen the US  dollar accordingly.  The retail sales figures simply include cars and again are expected to show a small improvement to +0.3% from -0.1% the last time.  At the same time we have the PPI numbers released by the Department of Labor which provide a leading indicator of consumer inflation, and measure the change in the price of finished goods and services, coupled with the core PPI figures which exclude food and energy.  The forecast for Core PPI is for a marginal improvement to 0.0% from 0.1% the last time and if the forecast is better than expected then again this should be positive for the US dollar.

Next on the agenda we have Business Inventories which measures the change in the total value of goods held in stock by manufacturers, wholesalers and retailers, and provides a snapshot of likely future business spending, since they are more likely to purchase goods when stocks are low.  The forecast is for little change at -1.2% against a previous of -1.1%.

The day rounds off with 3 important speeches of which the last is the most significant by Fed Chairman, Ben Bernanke which starts at 6.30 GMT.  His topic today is “Four Questions About The Financial Crisis” although quite how he has managed to reduce the current crisis to only 4 questions would be laughable if it weren’t so serious.  Audience questions are expected so we can expect some market volatility during this session.  Prior to that we have a speech from FOMC member Charles Evans who is covering Risk Management for Banks, and sandwiched between the two President Obama will be speaking about the US economy in Washington.

You can keep up to date with all the latest fundamental news, latest currency news and live charts by simply following the appropriate links.  I have also included information on an excellent ECN broker.