Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Dollar moves away from 2-month highs
1. Dollar moves away from 2-month highs
The U.S. dollar retreated further from a two-month high against a basket of major currencies early Thursday. The dollar index was down 0.15% at 95.28, moving further away from Monday’s two-month peak of 95.96.
The greenback fell to a two-week low of 108.84 yen and was last down 0.5% at 109.01, while the euro touched a two-week peak of 1.1220 and last traded at 1.1202, up 0.1%.
2. ECB event
2. ECB event
Traders will also be monitoring another high-profile event in Vienna on Thursday.
The European Central Bank is issuing its latest decisions on monetary policy and economic stimulus. ECB president Mario Draghi will be holding a press conference about the decision at 9:30 a.m. ET.
Economists don't expect any shift in policy, but markets will still be interested to see if Draghi gives indications about his future plans and economic outlook.
The ECB is pumping money into the eurozone economy in an effort to banish deflation and boost growth.
3. Economics and earnings
3. Economics and earnings
The U.S. was to release the ADP jobs report for May at 12:15GMT, or 8:15AM ET, followed by weekly jobless claims data at 12:30GMT, or 8:30AM ET.
Market players are also focusing on Friday\'s U.S. nonfarm payrolls report. The consensus forecast is that the data will show jobs growth of 162,000 last month, following an increase of 160,000 in April, the unemployment rate is forecast to dip to 4.9%, while average hourly earnings are expected to rise 0.2% after gaining 0.3% a month earlier.
4. Global stocks overview
4. Global stocks overview
U.S. stock futures pointed to a flat open on Thursday, as market players looked ahead to key U.S. data later in the day for more clues on the Federal Reserve’s next move.
Elsewhere, European stock markets were marginally higher, as investors waited to hear about monetary policy from the European Central Bank and oil output policy from the Organization of the Petroleum Exporting Countries.
Earlier, Japan\'s Nikkei tumbled 2% after the government moved to delay a sales-tax hike for more than two years, bucking mostly higher markets around the region.
