Trading Strategy

What is it? It checks the interest rate at which the BOE lends to financial institutions overnight.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? December 4^th at 7:00am Eastern Time.

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

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US markets climbed after strong Construction Spending data and auto sales. A speech from the Vice Chairman of the Fed, Stanley Fischer, also rocked markets.

Asian markets were mixed today. The Nikkei climbed 0.32% as the Dollar strengthened further against the Yen, climbing to 119.2.

European markets are mixed today. Markets are awaiting tomorrow’s press conference from the ECB as they expect the bank to increase stimulus measures.

Oil declined after reports that Iraq had made an agreement with the Kurdish government. Worries surfaced that oil production could increase and add even more supply to the market. The price declined despite a report from the API which showed US supplies decreased by a higher amount than expected. The EIA will also be releasing inventory data at 3:30pm (GMT) today.

Gold declined as fears over low oil prices subsided and the Dollar rallied. The metal is currently trading around $1200/barrel as the market searches for direction. Traders should focus on US data later in the session including the ISM Non-Manufacturing PMI and Beige Book release.

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4 Tips for Today's Trading - 03/12

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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) Oil Bounces

Oil prices were clawing back more ground -- rising about 1% to $67.40 a barrel in electronic trade -- after taking a beating following OPEC's decision not to cut production last week. That was seen as an attempt to choke off the US shale boom.

2) Mixed Leads

International markets were giving out mixed signals. European stocks notched modest gains in early trading, with Germany's DAX moving higher while the UK FTSE 100 index dipped.

The UK government is set to announce new economic forecasts, and tax and spending plans.

Asian markets also diverged. Hong Kong's Hang Seng shed 1% while the Shanghai Composite extended recent gains to close at a fresh three-year high.

3) Economic Highlights

It's a light day for economic news. The ADP's monthly employment report is due out at 8:15am. ET, followed by the Fed's Beige Book at 2:00pm ET. The monthly report gives anecdotal information about the economy from the 12 regional banks.

4) Earnings Updates

Retailer Abercrombie & Fitch (ANF) and Brown-Forman (BFA), the maker of Jack Daniel's Tennessee Whiskey, will report earnings before the opening bell. Retailers Aeropostale (ARO), New York & Co (NWY), Pacific Sunware (PSUN) and Tilly's (TLYS) will report after the close

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What is it? It checks the difference in value between imported and exported goods and services during the reported month.

Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers.

When? December 3^rd at 7:30pm Eastern Time.

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

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Other top stories:

4 Tips for Today's Trading - 02/12

The Importance of Diversification

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

It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

When? December 3^rd at 7:30pm Eastern Time.

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

Talk to us to get get FREE signals and start earning now: 

Other top stories:

4 Tips for Today's Trading - 02/12

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

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