AWARDS

During the early trading session, Asian stocks were slightly up as energy related company shares soared as investors took profits. Rising oil prices pushed up the price of mining and petroleum stocks. The Nikkei share average was up 0.08%, closing at 19,885 point. Following the release of positive Australian data, the AUD/USD reached 0.778, its highest level in 2 weeks. The Employment Change in Australia showed that the number of people employed rose by 37.7K, significantly higher than the expected 15K.

During the European session, the Euro is currently rebounding from yesterday’s decline as traders speculated the European Central Bank Conference. The pair reached a low of 1.062, but is now testing resistance at a weekly high of 0.074 following Draghis remarks. ECB President, Mario Draghi, took an optimistic stance, stating that the stimulus program is already showing signs of helping the economy, with the release of recent positive economic reports.

The price of oil continued to trade close to 4 month highs following the release of yesterday’s report showing that Crude oil Inventories rose by just 1.294M during the previous week. This data indicated less supply in comparison to the ratio of demand. Furthermore, Gasoline Inventories decline by 2.072M. The commodity is currently trading above $55/barrel.

Traders are now awaiting the release of U.S. data, including, the Building Permits, Housing Starts, Initial Jobless Claims and the Philadelphia Fed Manufacturing Index. Worse than expected figures could weaken the Dollar against a basket of major currencies in the short term.

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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. Earnings and market movers

It's a big day for the financial sector, with Citigroup (C) and Goldman Sachs (GS) reporting ahead of the open. American Express (AXP) will report after the close.

Etsy (ETSY) will start trading Thursday on the Nasdaq. It priced its initial public offering at $16 a share Wednesday, the high end of its expected range.

Watch out for Netflix (NFLX, Tech30) shares today: the stock is rallying nearly 12% premarket following a surge in after-hours trading as the firm reported it added 4.9 million members during the first quarter.

2. Economic updates

The U.S. government will post weekly jobless claims at 8:30 a.m. ET. The Census Bureau will report monthly housing starts and building permits, also at 8:30 a.m. ET.

3. Oil moves

Crude is slipping back in electronic trading to just below $56 a barrel after hitting a 2015 high on Wednesday.

OPEC releases its monthly report March Thursday, on the heels of an update from the International Energy Agency which showed the cartel is fighting hard to keep its share of the world oil market despite last year's price slump.

4. Leaders gather

The G20 finance ministers and central bank governors gather in Washington ahead of meetings of the World Bank and the IMF.

Greece is also in town. Finance Minister Yanis Varoufakis will attend the White House Greek Independence Day reception today ahead of crucial talks between creditors next week.

The cash-strapped country, which had its credit rating downgraded by S&P again on Wednesday, must present reform proposals to its international backers by the end of the month or risk default and exit from the euro. Germany is again talking tough: Finance Minister Wolfgang Schäuble said it was unlikely Europe would reach a deal with Athens next week, according to reports. And investor nerves are showing, with Greek bond yields rising strongly Thursday.

Ask us about our FREE financial advice program: 

Other top stories:

6 Top Reasons Traders Fail - Why You Need Signals

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How I Made Over $30,000 a Year by Investing in Binary Options

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