1. The U.S. dollar rose to fresh three-month highs against its Canadian counterpart on Tuesday, as the greenback remained broadly supported by concerns over a potential Greek exit from the euro zone and as downbeat Canadian data dampened demand for the local currency.

2. U.S. stocks opened higher before quickly reversing course on Tuesday morning, setting the stage for another volatile session as investors await the outcome of a euro zone summit that will attempt to find a solution to the ongoing debt crisis in Greece.

3. China's stock markets are in trouble. The Shanghai Composite Index has fallen over 25% since mid-June. The Shenzhen, which has more tech companies and is often compared to America's Nasdaq Index, is down even more.

4. Oil prices plunged nearly 8% and broke below $53 a barrel on Monday, the deepest plunge for crude oil since early February.

 

 

 

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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:

  

Greece, China and Iran are all in the spotlight today.

  

1. Resuming Greek negotiations:

European finance ministers and heads of state are meeting Tuesday to discuss how to help Greece out of its economic hole. Greece is asking its European creditors for further bailout money, but leaders are reluctant to give in to the nation's demands since they doubt the country's ability to repay any new debts.

Greece defaulted on a debt payment last week to the International Monetary Fund.

The nation has already received two huge international bailout packages since 2010 with a value of roughly 240 billion euros ($264 billion).

European markets are mixed in early trading as investors wait for the talks to begin.

U.S. stock futures are edging up.

 

2. Volatile China:

Key Chinese stock markets took another tumble Tuesday, with the Shanghai Composite dipping by 1.3% and the Shenzhen index down by 5.3%.

The Shanghai Composite has fallen roughly 30% from its recent high in mid-June, and the Shenzhen Composite has plunged by nearly 40% from its peak.

Chinese authorities announced measures over the weekend that were designed to prop up the markets, but it's too early to say whether they'll stop the bleeding.

State media is reporting that many Chinese companies are simply taking themselves out of the firing line by suspending trading in their shares.

 

3. Iran talks influence oil:

Investors are waiting for further developments out of Iran.

Negotiators from Iran, the United States, China, Germany, France, Britain and Russia are trying to reach a deal to lift sanctions against Iran in exchange for assurances that the country will maintain a peaceful nuclear program.

If they are able to reach a deal, Iran intends to quickly ramp up oil exports.

The prospect of a deal sent oil prices tumbling Monday. Now crude futures are moving back up by about 1% to trade just over $53 per barrel.

"It is important to emphasize that it will take some time for Iranian oil to hit the market, but certainly traders are willing to price that factor as the story develops further," said Naeem Aslam, chief market analyst at AvaTrade.

 

4. Earnings:

The Container Store (TCS) will report its latest quarterly results after the markets close.

 

 

 

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What is it? A positive number indicates that more goods and services were exported than imported. 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 8:30am 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? A positive number indicates that more goods were exported than imported. About 65% of Canadian exports are purchased by the US. 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 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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1. U.S. stocks fell in early trading on Monday after Greeks overwhelmingly rejected conditions of a rescue package from creditors, throwing the future of the country's euro zone membership into further doubt.

Stock markets globally fell, but analysts said the declines were less than expected due to expectations that the European Central Bank would act to limit any damage.

The ECB's governing council is due to hold a conference call on Monday afternoon to discuss the provision of emergency funding to Greece's banks. The call was originally to be held at noon. A new bailout deal is needed for Greece to meet a July 20 deadline to repay $3.9 billion of bonds to the ECB.

2. The U.S. dollar rose to fresh two-and-a-half month highs against its Canadian counterpart on Monday, as demand for the safe-haven greenback strengthened broadly after Greek voters rejected conditions of a rescue package from creditors on Sunday.

USD/CAD hit 1.2652 during early U.S. trade, the pair's highest since April 13; the pair subsequently consolidated at 1.2650, gaining 0.62%.

The pair was likely to find support at 1.2540, Friday's low and resistance at 1.2668, the high of April 10.

3. Service sector activity in the U.S. grew at a slower pace than expected in June, one month after expanding at the weakest rate in more than a year, industry data showed on Monday.

In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index inched up to 56.0 last month, up from 55.7 in May but below forecasts for a reading of 56.2.

 

 

 

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What is it? Eurogroup meetings are usually held in Brussels and attended by the Eurogroup President, Finance Ministers from euro area member states, the Commissioner for economic and monetary affairs, and the President of the European Central Bank. They discuss a range of financial issues, such as euro support mechanisms and government finances. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering meeting objectives may be released after the meetings have concluded. The Eurogroup coordinates economic policies of the 19 euro area member states, and their initiatives and decisions can have a widespread effect on the Eurozone's economic health.

When? All Day

Trading Tip: This announcement can greatly affect the EUR so make sure to follow it!

  

 

 

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What is it? Manufacturing makes up around 80% of total Industrial Production and tends to dominate the market impact. It's a leading indicator of economic health - production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.

When? At 16:30am Eastern Time.

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

 

 

 

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