AWARDS

What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the services industry.

It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

Usual Effect: If the actual number is bigger than the forecast, you can expect the GBP to rise.

When? October 3rd at 04:30am Eastern Time.

Trading Tip: The announcement can greatly affect the GBP, make sure to make your trade before.

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Unemployment Claims

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What is it? It Checks the number of individuals who filed for unemployment insurance for the first time during the past week.

Although it's generally isn’t viewed as a very important indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's financial policy.

Usual Effect: If the actual number is smaller than the forecast, you can expect the USD to rise.

When? Today (2.10) at 08:30am Eastern Time.

Trading Tip: The announcement can greatly affect the USD, make sure to make your trade before.

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ECB Press Conference 

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What is it? The press conference is about an hour long and has 2 parts - first a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility. The press conference is webcasted on the ECB website with a slight delay from real-time.

It's the primary method the ECB uses to communicate with investors regarding financial policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future financial policy.

Usual Effect: If the conference is more aggressive than expected, you can expect the EUR to rise.

When? Today (2.10) at 08:30am Eastern Time.

Trading Tip: The announcement can greatly affect the EUR, make sure to make your trade before.

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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) October Blues

US stock futures were looking weak Thursday after markets started the new month with a big decline. The Dow Jones industrial average lost 1.4% Wednesday, the S&P 500 fell 1.3%, and the Nasdaq was off 1.6%.

This comes after all the major indexes posted declines for the month of September.

The latest reading shows investors are feeling extremely fearful, just weeks after the major benchmark indexes were hitting record highs. Unrest around the world and slower growth is hurting sentiment.

2) Getting Ready for the ECB

Investors are keen to hear from the president of the European Central Bank, Mario Draghi. He holds a news conference in Italy at 08:30am Eastern Time after the central bank's monthly meeting.

Pressure is building on the ECB to go all-in with a Federal Reserve-style program to buy government bonds as some of Europe's largest economies fall. However, most analysts do not expect any new initiatives.

The Eurozone economy has stalled and inflation is the weakest it has been for nearly five years.

The major European markets were declining in early trading.

3) NFL Fever

Shares of DirecTV (DTV) were rising in extended trading after the NFL said it was giving the satellite provider rights to continue carrying its popular NFL Sunday Ticket package for another eight years.

4) US Economic Data

The US government will post weekly jobless claims at 08:30am Eastern Time.

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