Trading Strategy

What is it? Lockhard is due to speak about monetary policy and the economic outlook at the Georgia Law Review Symposium, in Athens. 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? March 20^th at 10:20am Eastern Time.

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

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What is it? It checks the change in the total value of sales at the retail level, excluding automobiles.

Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

When? March 20^th at 8:30am 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? It checks the change in the price of goods and services purchased by consumers, excluding the 8 most volatile items.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

When? March 20^th at 8:30am Eastern Time.

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

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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. Stocks step back

U.S. stock futures are edging down after markets posted big gains Wednesday. The run-up was inspired by comments from the U.S. Federal Reserve indicating it will take a slow and steady approach to rate hikes.

European markets are taking their cue from the strong performance on Wall Street. Nearly all the major indexes are moving up in early trading. The majority of Asian markets also closed with gains.

2. Potential market movers -- Apple, Big Oil, eBay

Shares in Apple (AAPL, Tech30) could see higher than normal trading volume Thursday as the company joins the Dow Jones Industrial Average.

Apple is the largest company in the world based on market capitalization, but it took a long time for it to be included in the benchmark index.

Shares in oil services groups are declining pre-market in reaction to a further 3% slump in crude oil futures, which are now trading around $43 per barrel. Transocean (RIG), Halliburton (HAL) and Schlumberger (SLB) are all off by more than 1%.

Shares in eBay (EBAY, Tech30) are declining by about 2.5% premarket, slipping back from an all-time high set earlier this month.

3. Target tries to make amends

Target (TGT) is trying to make amends with customers who suffered from a 2013 data breach. It's offering to pay up to $10,000 per person in damages. The proposal is part of a $10 million offer by Target to settle a class action lawsuit.

Shares in the company were flat ahead of the open.

4. Russia and Greece on the agenda

Leaders from across the 28 nations in the European Union are meeting Thursday to kick off a summit where they're expected to discuss a range of issues, including Russian sanctions and Greece's fate.

The leaders of Germany, France, Greece and the European Central Bank will huddle in a smaller group on the sidelines of the summit to discuss the rapid deterioration in Greek finances, which threatens its position in the Eurozone.

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Foreign buying of Japanese stocks netted 306.2 Billion Yen during the week of March 9th – 13th, its highest amount in 3 months. Following the release of positive data from New Zealand, the NZD remained supported after recent gains against a basket of major currencies, the fourth quarterly GDP increased by 0.8%, slightly higher than the expected figure of 0.7%.

During the European session, the EUR/USD traded lower as traders took profit after yesterday’s gains. The Dollar retreated from record highs following Wednesday’s FOMC statement as Fed officials downgraded the country’s growth and inflation outlook.

During early U.S. trade, the Federal Reserve Bank released data showing that the Manufacturing Index indicated improving conditions with a figure of 5.0, lower than the expected figure of 7.0. Despite the data being negative the Dollar was little changed as expectations over an interest rate hike midyear continues to support the Dollar.

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