What is it? It checks the change in the number of new loans granted for owner-occupied homes.

It's a leading indicator of demand in the housing market - most homes are financed, so it provides an excellent gauge of how many qualified buyers are entering the market.

When? May 11th at 9:30pm Eastern Time.

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

 

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What is it? It checks the interest rate at which the BOE lends to financial institutions overnight.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? May 11th at 7:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the GBP 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. Rate cut in China

China's central bank cut interest rates over the weekend and stock markets responded by catapulting higher.

The China Shenzhen index surged by 4.5% and the Shanghai Composite index jumped by 3% on Monday.

This is the third rate cut in the last six months.

 

2. Earnings

Dish Network (DISH), Mobileye (MBLY) and Sotheby's (BID) are reporting ahead of the open.

 

3. Global economics

The Bank of England releases its rate decision Monday. Monetary policy in the U.K. has been very loose for a long time, but economists expect the central bank will eventually begin tightening the screws.

The British economy is improving so "it will be difficult to think of a situation why the monetary policy should remain at current level[s]," said Naeem Aslam, chief market analyst at AvaTrade.

Eurozone finance ministers are meeting Monday to decide whether to help Greece by giving the indebted nation more loans. Investors continue to worry that Greece could soon default on its debt. The country has to make a €750 million ($838 million) debt repayment to the International Monetary Fund on Tuesday.

 

4. Stock market overview

U.S. stock futures are moving sideways, indicating it could be a quiet start to the day.

 

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Other Top Stories:

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