What is it? Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? At 8:15am Eastern Time.

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

 

 

 

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1. The U.S. dollar rose against its Canadian counterpart on Tuesday, as the greenback recovered from recent losses posted after downbeat U.S. economic reports, although rising oil prices lent some support to the Canadian currency.

USD/CAD hit 1.3159 during early U.S. trade, the pair's highest since October 30; the pair subsequently consolidated at 1.3143, gaining 0.37%.

The pair was likely to find support at 1.3036, the low of October 23 and resistance at 1.3240, the high of October 29.

2. Gold prices were on track to post their fourth consecutive losing session on Tuesday, as investors continued to cut holdings of the precious metal amid expectations the Federal Reserve will raise interest rates at its next meeting in December.

Gold for December delivery on the Comex division of the New York Mercantile Exchange tumbled $11.30, or 0.99%, to trade at $1,124.60 a troy ounce during U.S. morning hours. It earlier fell to $1,124.20, the lowest since October 2.

3. Bank of America Corp (N:BAC), the No. 2 U.S. bank, has agreed to sell its $87 billion money-market fund business to BlackRock Inc (N:BLK) in one of the cash-management industry's largest deals ever.

The transaction comes as big banks have faced pressure to simplify their businesses since the global financial crisis and marks the largest in a series of deals reshuffling the cash-management industry before costly regulatory reforms take effect in 2016.

4. U.S. factory orders fell for the second consecutive month in September, dampening optimism over the health of the economy, official data showed on Tuesday.

In a report, the U.S. Census Bureau said factory orders dropped by a seasonally adjusted 1.0% in September, worse than forecasts for a fall of 0.9%.

Factory orders decreased 2.1% in August, whose figure was revised from a previously reported decline of 1.7%.

5. West Texas Intermediate oil futures rallied sharply on Tuesday, as market players looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products to gauge the strength of demand in the world’s largest oil consumer.

Crude oil for delivery in December on the New York Mercantile Exchange jumped 96 cents, or 2.08%, to trade at $47.10 a barrel during U.S. morning hours. It earlier rose to $47.28, the highest since October 19.

 

 

 

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There's a lot of earnings out Tuesday.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 

1. Earnings

 

Kellogg (K), Office Depot (ODP), Sprint (S) and TransCanada (TRP) are among companies reporting ahead of the market open.

Another batch after the closing bell will include Tesla (TSLA), CBS (CBS), Groupon (GRPN), Cablevision (CVC), Denny's (DENN), Herbalife (HLF) and Etsy (ETSY).

 


2. Market movers

 

Shares in the global bank Standard Chartered are dropping by about 7% in London after announcing Tuesday that it is cutting 15,000 jobs after posting a surprise loss in the third quarter.

The bank is asking investors for another $5.1 billion that it plans to spend on technology infrastructure and other strategic opportunities.

Shares in Activision (ATVI, Tech30) are rising almost 3% in premarket after it announced it is buying Candy Crush maker King Digital (KING) for $5.9 billion.

Activision is best known for producing traditional video games like Guitar Hero and Call of Duty. Shares in King surged Monday as investors anticipated a takeover.

UBS (UBS) shares are down about 4% in Europe after the Swiss bank posted its latest earnings. Third quarter numbers beat expectations but the Swiss bank said it expected a key measure of profitability to be weaker next year than previously forecast.

 


3. Focus on cars

 

Volkswagen (VLKAY) shares are falling almost 3% after regulators suggested the emissions scandal extends to the Porsche Cayenne model.

Porsche is part of the Volkswagen Group, which also includes Audi. VW disputed the regulators' claim.

Later today car companies will be publishing their October vehicle sales numbers in the U.S.

 


4. Stock market overview

 

Investors can't seem to decide whether they want to buy or sell.

U.S. stock futures are dipping in the red, though the move down is minor.

European markets are quiet in early trading, while most Asian markets ended with gains.

On Monday the Dow Jones industrial average turned positive for the year after rallying 165 points, closing 0.9% higher. The S&P 500 added 1.2% and the Nasdaq gained 1.5%.

 

 

 

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What is it? 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? At 7:30pm Eastern Time.

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

 

 

 

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

When? At 7:30pm Eastern Time.

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

 

 

 

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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

When? At 4:45pm Eastern Time.

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

 

 

 

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What is it? It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders.

When? 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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1. U.S. stocks were marginally higher on Monday as investors assessed factory activity data from China and Germany, and ahead of U.S. manufacturing data.

China's official factory data on Sunday showed activity unexpectedly shrank for a third straight month in October, though the contraction was modest.

2. The euro rose to session highs against the dollar on Monday, extending gains further above the 1.10 level after data showing the U.S. manufacturing sector expanded at the slowest rate in two years in October.

The dollar weakened after the Institute of Supply Management said its manufacturing purchasing managers’ index ticked down to 50.1 in October from 50.2 in September.

Economists had expected the index to decline to 50.0, which is the cut-off point between expansion and contraction.

3. Gold and silver prices fell to four-week lows on Monday, as investors continued to cut holdings of the precious metals on expectations of tighter U.S. monetary policy in the coming months.

Gold for December delivery on the Comex division of the New York Mercantile Exchange shed $8.10, or 0.71%, to trade at $1,133.30 a troy ounce during U.S. morning hours. It earlier fell to $1,132.50, the lowest since October 5.

4. Oil prices fell on Monday as weak Chinese economic data fueled concerns about demand slowing there and record-high production in Russia exacerbated the global supply glut.

Brent crude futures (LCOc1), the global benchmark, traded down 50 cents at $49.06 a barrel at 1428 GMT (09:28 a.m. EDT), down 1.1 percent. U.S. futures were trading at $45.98 a barrel, down 60 cents or 1.3 percent on Friday's close.

5. The pace of growth in the U.S. manufacturing sector slowed in October, remaining at its lowest level since May 2013, according to an industry report released on Monday.

The Institute for Supply Management (ISM) said its index of National factory activity fell to 50.1, its fourth straight monthly decline, from 50.2 the month before. The reading was just above of expectations of 50.0, according to a Reuters poll of economists.

6. Manufacturing activity in the U.S. expanded at the slowest rate in more than two years in October, dampening optimism over the strength of the economy and fanning hopes the Federal Reserve could delay raising interest rates until next year, industry data showed on Monday.

In a report, the Institute for Supply Management said its index of purchasing managers fell to 50.1 last month from a reading of 50.2 in September. Analysts had expected the manufacturing PMI to dip to 50.0 in October.

7. Manufacturing activity in the U.K. expanded at the fastest rate since June 2014 in October, boosting optimism over the country’s economic outlook and supporting the case for higher interest rates, industry data showed on Monday.

In a report, market research group Markit said that its U.K. manufacturing PMI rose to a seasonally adjusted 55.5 last month from a reading of 51.8 in September. Analysts had expected the index to decline to 51.3 in October.

 

 

 

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