What is it? It checks the change in the average price of dairy products sold at auction.

It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income.

When? June 2nd at 10:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.

 

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What is it? FOMC Member Brainard is due to speak about the US economic outlook and monetary policy at the Center for Strategic and International Studies, in Washington DC. Audience questions expected.

Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

When? June 2nd at 10:00am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the JPY to rise.

 

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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 

1. Stock market overview

U.S. stock futures are moving higher and most European markets are firmer in early trading.

Asian markets ended with mixed results, but the Shanghai Composite stood out after shooting up by nearly 5% Monday. Investors appear to be betting even more heavily that China will take measures to stimulate its economy after another batch of weak data.

On Friday, the main U.S. stock markets closed the month of May with a loss. The Dow Jones industrial average declined by 116 points, the S&P 500 fell 0.6% and the Nasdaq closed 0.6% lower.

 

2. Market movers -- Altera, AstraZeneca, Roche

Shares in Altera (ALTR) are rallying by about 8% premarket as reports say Intel (INTC, Tech30) will soon announce a takeover deal for the company worth roughly $17 billion. Intel will reportedly pay $54 per share.

Shares in AstraZeneca (AZN) and Roche (RHHBF) are rising by about 2% in Europe after each company reported encouraging results from tests of new cancer treatments. Reports from the American Society of Clinical Oncology annual conference in Chicago suggest the clinical trials could reflect a major breakthrough in using the body's immune system to treat cancer.

 

3. Greece's problems rumble on

Investors are keeping an eye on Greece this week as the country approaches another debt deadline on Friday. Many doubt whether the country will have enough money to repay its debts this month.

"Early June payments are likely to be made but the chances that enough cash can be found under mattresses or behind cupboards to get through the whole month are remote," said Kit Juckes, a market strategist at Societe Generale.

Meanwhile, traders are expressing concern about the Greek prime minister's opinion article in French newspaper Le Monde, where he accused "certain institutional actors" of "submitting absurd proposals" that are hurting Greece.

The euro was slightly weaker against the dollar.

 

4. Economics

New data out of Europe showed the manufacturing sector continues to improve, as previously forecast.

In the U.S., the government will publish personal income and spending numbers at 8:30 a.m. ET.

New U.S. monthly manufacturing data will be released at 10 a.m.

 

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What is it? It checks the change in the total value of employment income collected by workers.

Income is correlated with spending - the more disposable income consumers have, the more likely they are to increase spending.

When? June 1st at 9:30pm Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the JPY to rise.

 

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Other Top Stories:

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