Archive for forex rates

A curious start to the week for the euro to dollar forex pair, with very little real fundamental news on the economic calendar tomorrow, but instead we have several speeches from FOMC members and between these is an address from President Obama in the US markets. For Europe there are two items of news which start with the Industrial Production figures followed by the Employment Change, with the first of these forecast at -0.3%against a previous of -0.6%. The figures tend to have a relatively muted impact on the forex markets as both Germany and France which constitute over 50% of the European economy, release their figures earlier, and whilst this is considered a leading indicator, the effects are low key for the euro to dollar, and other forex pairs. The only other item for Europe is the Employment Change which is forecast at -0.8%, but again this will have limited impact on the euro dollar.

The afternoon in the US for fundamental news is punctuated by speeches starting with FOMC member Duke, followed by President Obama, and completed with a speech by FOMC Lacker and finally FOMC member Yellen. All four speeches cover some aspect of the financial crisis, so we could see some interesting reactions in the forex markets tomorrow, and indeed many forex analysts and forex market commentators are now suggesting that we may see a significant shift in the US dollar sentiment which is now widely believed to be oversold, and the speeches on Monday could provide the trigger for the US dollar to stage a recovery.

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.

With the US markets closed for a national holiday on Monday for Labor Day, the only items of fundamental news on the economic calendar for the euro to dollar are in Europe today, with two minor items scheduled for release. The first of these is a composite index, The Sentix Investor Confidence report, which is based on a survey of investors and analysts, and is generally considered to be a leading indicator of the economy. The forecast for today is -13.50, against a previous of -17.0, and with 0 being the tipping point from pessimism to optimism this data is once again expected to show that the economy and market sentiment are improving slowly, but that we have a long way to go before a full recovery is in progress. Should the actual be better than expected then this could be good news for the euro. The only other fundamental news item for today is in Germany with the release of the German Factory Orders data, which is forecast at 2.0% against a previous of 4.5%. Whilst the numbers are down from last time, this may not surprise the markets since this is a monthly data set, and therefore covers the quiet summer months, so whilst the forecast is worse than last time, this is probably only a reflection of the time of year, rather than a deeper underlying malaise.

Finally over the weekend we saw the conclusion of the G20 meeting in London, but as usual there was little meaningful news for the forex markets to absorb, and as a result markets will open today in much the same mood as Friday, but we will have to wait until Tuesday for a return to full trading volumes in the euro to dollar pair.

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.