AWARDS

Yesterday, US markets rallied at the open as oil prices rebounded slightly.  However, the commodity failed to hold onto gains and fell back down, reigniting bearish sentiment.

Asian markets declined across the region. The Nikkei lost 2.01%, reaching a 6 week low. The Yen strengthened following the reelection of the current government, led by Prime Minister Abe and investors welcomed stability.

European markets are mixed today due to a number of factors. Investors are selling off riskier assets as they focus on oil prices and watch the Ruble’s collapse following the interest rate hike to 17%.

Oil reached a new 5 year low as OPEC made no indication that they would cut production despite the price dropping far below $60/barrel. Separately, the UAE Oil minister stated that OPEC would not cut production until the price falls as low as $40/barrel. The price is now rebounding slightly after positive data from across Europe. Traders should focus on inventory data from the API which will be released at 9:30pm GMT.

Gold dropped strongly but has since regained all losses as traders anticipate the FOMC meeting and its statement on Wednesday. Russia’s decision to hike rates has also brought uncertainty into the market increasing demand for safe haven assets.

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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? December 16^th.

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

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What is it? It checks the annualized number of new residential building permits issued during the previous month.

It's an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building.

When? December 16^th at 8:30am Eastern Time.

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

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What is it? It checks the change in the total value of sales made by manufacturers.

It's a leading indicator of economic health - manufacturers are quickly affected by market conditions, and changes in their sales can be an early signal of future activity such as spending, hiring, and investment.

When? December 16^th at 8:30am Eastern Time.

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

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4 Tips for Today's Trading - 16/12

The Importance of Diversification

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

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