With a short trading week today’s fundamental news on the economic for the euro to dollar pair can best be described as thin.  Indeed the only significant items came in this morning for the euro with the Sentix Investor Confidence report and retail sales month on month.  The first of these came in better than expected at -35.3 against a forecast of 40.7 and is generally considered a leading indicator of the economy.  It is based on a survey of around 3000 investors and analysts and asks them to give their views on their outlook for the economy for the next six months.  A positive figure indicates optimism whilst a negative is pessimistic, so we can assume from the above that whilst their view is still very pessimistic it is less so than last time.    Meantime retail sales worsened to -0.6% against a forecast of -0.3%.  The data measures the change in the total value of inflation adjusted sales at the retail level, but this news tends to have a relatively small impact as Germany and France are not included (they release their own figures separately).  There is no other fundamental news due for release affecting the euro to dollar pair other than FOMC member Walsh who is due to speak about the financial markets and the economy at the Council of Institutional Investors in Washington.

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