Yesterday, the Euro-Zone produced another day of poor data as Services PMI was unchanged from its 5 year low at 48.3 and Retail Sales lost 0.6% form last months revised rise of 0.5%. With growing positivity from the US economy the Euro was unable to hold steady against the greenback as it lost ground for yet another day.

Today only one indicator will be released from the Euro-Zone economy. The German Factory Orders indicator is predicted to rise from by 0.4%, a 1.5% difference in change from last months near 1% drop. This indicator measures the value of new purchase orders placed with domestic manufacturers for durable and non-durable goods and is an accurate pre-cursor for overall European movement. Still annual rates are expected to drop by just under 5% and will likely be drowned out by today’s European market response to yesterdays FOMC statement.

Investors could see some recovery today from the Euro as many feel that yesterday’s lack of real purposeful change from the Federal Reserve will rollback some dollar profits.

Today, two indicators are forecasted to be released from the Asian powerhouse. The Leading Economic Index is derived from many sectors such as employment, production, and consumer confidence and is projected to come in at 90.8%, lower than previously recorded. Also on tap we can expect Core Machinery Orders, which is expected to drop just under 10% from last month, indicating to investors that the manufacturing industry is in a contraction phase.

Forex traders could be in store for another day of JPY volatility as equity markets look to respond to lingering effects of yesterday’s FOMC statements and today’s energy price movements and inventories.