Trading Strategy

What is it? It checks the level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing 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.

When? April 6^th at 10:00am Eastern Time.

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

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

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.

When? April 6^th at 10:00am Eastern Time.

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

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What is it? FOMC Member Dudley is due to speak about the economic outlook at the New Jersey Performing Arts Center. Audience questions expected.

Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

When? April 6^th at 8:30am Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.

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During today’s early trading session, Asian stocks traded traded higher following data from Japan’s Central Bank showing that it bought 35.2 billion Yen in exchange traded funds. This report boosted hopes for future bonds and stocks buying, pushing investors towards the stock market.

During the European session the GBP dropped against the Dollar following negative data. The Euro is currently rallying against the Dollar and is up by 1% as traders looked back on comments made by ECB policy makers in their March meeting. Despite officials agreeing not to reduce quantitative easing measures, they pointed out that the economy is improving. Traders are now speculating less bond buying in the near future.

Traders are now awaiting the release of the Nonfarm Payrolls on Friday, analysts expect the number of people employed during the previous month would have risen by 240,000. The market tends to react with high volatility in accordance to the actual figure released. Higher than expected could push the Dollar up 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. Three days of declines?

U.S. stock futures are dipping, indicating Wall Street could see a third consecutive day of declines before the Easter long weekend.

Traders will be trying to position themselves for the release of the monthly U.S. jobs report Friday, when most major stock markets will be closed. Currency markets will definitely be moving.

The U.S. Bureau of Labor Statistics is expected to report the economy created 244,000 jobs in March, according to a CNNMoney survey of economists.

2. International markets overview

European markets are relatively stable in early trading. No single index is making any standout moves.

Investors are watching the political back-and-forth moves on Greece. The heavily indebted nation is trying to convince international lenders to release further bailout money so that it can pay for day-to-day expenses and upcoming debt repayments.

Most Asian markets ended the day with healthy gains.

3. Potential stock market movers -- McDonald's, Kraft

McDonald's (MCD) stock may be in play after announcing late Wednesday that it would raise hourly wages for 90,000 employees who work at company-owned stories.

Kraft (KRFT) and Mondelez International (MDLZ) will be in the spotlight Thursday after the U.S. Commodity Futures Trading Commission announced it had filed a civil complaint against the food giants for manipulating wheat prices.

4. Earnings and economics

Avocado producer Calavo Growers (CVGW) and retailer Perry Ellis (PERY) are both reporting ahead of the open.

Also before the opening bell, the U.S Labor Department will release its report on weekly jobless claims at 8:30 a.m. ET.

The government's report on February's trade balance will also come out at that time.

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During today’s early trading session, Asian stocks continued to trade lower as Japanese shareholders took profits towards the end of the first quarter. Following the release of mixed Japanese data the Dollar dropped against the Yen and bounced off a key support level of 119.4.

The price of Gold rallied and is now testing resistance $1,197/ounce as market spectators react to positive data out of China. The Manufacturing PMI and HSBC Manufacturing both showed slightly better readings than expected, furthermore, negative U.S. data released today continued to support the precious metal. The ADP Nonfarm Employment Change was significantly lower than the expected 225,000 with a reading of 189,000. Negative data in the U.S. labor market could delay an interest rate hike in the states.

Traders are now awaiting the release of the Nonfarm Payrolls on Friday, analysts expect the number of people employed during the previous month would have risen by 240,000. The market tends to react with high volatility in accordance to the actual figure released. Higher than expected could push the Dollar up in the short term.

Ask us about our FREE financial advice program: 

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