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What is it? It checks the change in the number of new loans granted for owner-occupied homes.

It's a leading indicator of demand in the housing market - most homes are financed, so it provides an excellent gauge of how many qualified buyers are entering the market.

When? May 11^th at 9:30pm 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 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? May 11^th at 7:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the GBP 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. Rate cut in China

China's central bank cut interest rates over the weekend and stock markets responded by catapulting higher.

The China Shenzhen index surged by 4.5% and the Shanghai Composite index jumped by 3% on Monday.

This is the third rate cut in the last six months.

2. Earnings

Dish Network (DISH), Mobileye (MBLY) and Sotheby's (BID) are reporting ahead of the open.

3. Global economics

The Bank of England releases its rate decision Monday. Monetary policy in the U.K. has been very loose for a long time, but economists expect the central bank will eventually begin tightening the screws.

The British economy is improving so "it will be difficult to think of a situation why the monetary policy should remain at current level[s]," said Naeem Aslam, chief market analyst at AvaTrade.

Eurozone finance ministers are meeting Monday to decide whether to help Greece by giving the indebted nation more loans. Investors continue to worry that Greece could soon default on its debt. The country has to make a €750 million ($838 million) debt repayment to the International Monetary Fund on Tuesday.

4. Stock market overview

U.S. stock futures are moving sideways, indicating it could be a quiet start to the day.

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During the early trading session, Asian stocks traded higher as major governments paused the paused the bond sell off. Over the past week countries, including, UK, Germany and the U.S. turned their focus to return of inflation and thus sparking a rise in bond yields, as they struggled with debt. The Nikkei share average was up 0.45%, closing at 19,379 points. Furthermore, Investors turned to the China stock market following the release of negative data. The Trade Balance for China showed a lower than expected reading of 34.13B. The Hang Seng rose 1.05% and the Shanghai Composite closed 0.73% higher.

During the European session, the Euro traded lower against the stronger Dollar as currency traders looked ahead to the Nonfarm Payrolls and following the release of weak data from Germany. The German Industrial Production and the trade balance both showed worse than expected figures for the month of March. The British pound rallied against the Dollar and reached its highest level in nearly two and a half months following the UK elections. Conservative party leader, Davis Cameron, was re-elected as Prime Minister sending UK markets upward, the FTSE 100 Index also jumped more than 2% as traders showed their relief over the victory.

During early U.S. trade, the American Bureau of Labour Statistics released the highly anticipated Nonfarm Payrolls. The economic report showed that 223,000 more people were employed during the previous month, slightly lower than the expected figure of 224,000. The Dollar briefly weakened against a basket of major currencies, but then showed little change as traders digested the actual figure. The Dollar remains supported as the data was close to analysts’ expectations including the unemployment rate figure of 5.4%.

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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. Ready for the jobs report

The U.S. Bureau of Labor Statistics releases its highly anticipated monthly jobs report at 8:30 a.m. ET.

Economists surveyed by CNNMoney project that 220,000 jobs were created in April, bringing the unemployment rate down to 5.4% from 5.5%.

In March, the economy added 126,000 jobs, which was well below expectations.

Some economists believe March was an aberration, while others say the data indicates that hiring is slowing down. If the April job number comes in below 200,000, investors will be on high alert.

Ahead of the release, U.S. stock futures are inching higher.

2. Markets jump after U.K. election

U.K. investors are waking up Friday to a surprise election win for Prime Minister David Cameron, and they're cheering the results.

London's benchmark index, the FTSE 100, rallied by 2% when markets opened. The FTSE 250, which tracks many mid-sized British companies, surged by just over 3%.

The British currency and bond markets are also rising as investors express relief that a contentious result has been avoided. The polls had been inconclusive in the lead-up to the election.

"For investors, a clear victor removes a tremendous amount of uncertainty in the near-term over the ability of the government to govern and legislate," explained Azad Zangana, senior European economist at Schroders.

European stock markets are also rising, though the gains are not as big.

3. China stocks

Chinese investors have been shaken from their state of prolonged euphoria this week as major stock markets have stumbled.

The main Chinese indexes closed the day with gains. But if you look at the week as a whole, the benchmark Shanghai Composite index is down by about 5%. The Hang Seng in Hong Kong also dipped by 2% this week.

For investors, the pullback is a major reality check. The Shanghai stock market has more than doubled over the past 16 months to its highest levels in six years.

4. Thursday market recap

The Dow Jones industrial average jumped by 82 points, while the S&P 500 rose 0.4% and the Nasdaq closed with a 0.5% gain.

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What is it? It checks the change in the price of goods and services purchased by consumers.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to respond by raising interest rates.

When? May 8^th at 9:30pm Eastern Time.

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

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What is it? It checks the percentage of the total work force that is unemployed and actively seeking employment during the previous month.

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. Unemployment is also a major consideration for those steering the country's monetary policy.

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

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

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