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What is it? It checks the change in the total value of employment income collected by workers.
Income is correlated with spending - the more disposable income consumers have, the more likely they are to increase spending.
When? March 30th at 9:30pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the JPY 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. Yellen toes the line
Market watchers say the buoyancy in global markets was inspired by a speech made late Friday by the head of the Federal Reserve, Janet Yellen.
Yellen said the U.S. central bank would be slow and steady with its upcoming interest rate hikes.
"The basic take away is that the [Fed's] policy normalization process will be only a minor transformation from 'Zero Interest Rate Policy' to 'Low Interest Rate Policy'," explained Mike O'Rourke, chief market strategist at JonesTrading. "In her own words, Yellen described it as a 'gradualist approach'."
U.S. stocks closed the week with small gains, following four consecutive days of losses.
2. Focus on oil
Oil is in the spotlight this week with major producing nations hitting the headlines. Crude futures were trading about 1.5% lower Monday.
Iran is negotiating with world powers about its nuclear capabilities. If a general framework for a deal is reached by Tuesday, then the U.S., Iran and others will have until the end of June to hammer out more specifics. That could lead to a lifting of sanctions and allow Iran to pump more oil to world markets.
Saudi Arabia continues to be in focus on expectations that it will launch a ground incursion in Yemen. Last week, Saudi Arabia and a number of other nations launched air strikes over Yemen.
And one of Africa's biggest producers, Nigeria, is tallying up the results of its election at the weekend.
3. Greek drama continues
Greece is waiting for its international partners to approve a list of proposed economic reforms that it submitted Friday.
Greece needs the green light before it can get any more money from lenders. The new left-wing government of the heavily indebted nation could run out of money in a matter of weeks if creditors don't agree to release more bailout funds.
4. Economics
The U.S. government will release February data on personal income and spending numbers at 8:30 a.m. ET.
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What is it? It checks the level of a diffusion index based on surveyed manufacturers, builders, retailers, agricultural firms, and service providers.
It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
When? March 30th at 8:0pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.
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During today’s early trading session, Asian stocks traded lower as investors took profits before the first quarter ends. Following the release of mixed Japanese data the Yen strengthened against a basket of major currencies. The yearly and monthly household spending showed better than expected figure, however, the National Core CPI and Retail Sales came out negative.
During today’s early U.S. trading session, negative data weakened the Dollar against the Euro, however, losses were limited as more economic reports showed that the Michigan consumer expectations and sentiment beat analysts’ expectations.
Later today Fed Chair Yellen will be speaking, currency traders will listen closely for any clues on future monetary policy. It is likely that we will see the reaction to her comments when markets open again after the weekend.
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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. Another day of losses?
U.S. stock futures are edging lower, indicating all the major indexes could dip into the red when trading begins.
This follows four consecutive days of drops. The Dow Jones industrial average and S&P 500 have both declined by 2.5% since the start of the week. The Nasdaq has fallen by just over 3%. Before the fall, the tech-heavy index was trading near an all-time high.
"Geopolitical risk [is] set to remain over the weekend with the situation in Yemen tense and Greece needing to deliver serious and useful economic reforms by Monday if it is to receive the funds it needs so badly," explained Mike van Dulken, head of research at Accendo Markets.
2. International markets overview
European markets are mixed in early trading.
Asian markets ended the week with mixed results.
3. Stock market movers -- Adidas, Yahoo, Gamestop, Lufthansa
Shares in Adidas (ADDYY) are up by about 3.5% in Germany as investors react favorably to a turnaround plan presented by management at the sports apparel company. Shares in Yahoo (YHOO, Tech30) are rising by about 2% premarket after the company announced plans to buy back an additional $2 billion of its own shares.
Gamestop (GME) is down by 6% premarket after the company reported quarterly results that missed expectations.
Lufthansa (DLAKF) shares gained 1%, steadying after hefty losses this week following the crash of its Germanwings flight in France Tuesday.
4. Earnings and economics
BlackBerry (BBRY, Tech30), Carnival (CCL) and Finish Line (FINL) are all reporting ahead of the open.
On the economic side, the U.S. government will post its third estimate of fourth quarter GDP at 8:30 a.m. ET.
Then at 10 a.m., the University of Michigan will release its final March reading of consumer sentiment.
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