What is it? It checks the level of a diffusion index based on surveyed retailers and wholesalers.

It's a leading indicator of consumer spending because retailer and wholesaler sales are directly influenced by consumer buying levels.

When? December 19th at 6:00am Eastern Time.

 

 

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

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What is it? It's among the primary methods the BOJ uses to communicate with investors regarding monetary policy. It covers the factors that affected the most recent interest rate decision, the overall economic outlook, inflation, and clues regarding future monetary policy.

When? December 19th at 1:30am Eastern Time.

 

 

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the JPY to rise.

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US markets closed lower after a choppy session. Investors became anxious with the threat of falling oil prices and a strong devaluation of the Russian Ruble. Attention will now turn to today’s FOMC statement at the conclusion of a 2 day meeting.

Asian markets were mixed across the region. The Nikkei added 0.38% as the Japanese Trade Balance came out strong and showed a lower than expected deficit of 892 billion. The Hang Seng lost 0.42% as sentiment spilled over from the US session and investors focused on Russia and the FOMC statement.

Yesterday, Oil reached a new low of $53.6/barrel. Prices plunged on worries over Russia and weak data from China. Volatility was high and later in the session the price managed to rebound upwards following strong European data and speculation that the price had dropped too strongly. The API released data showing that inventories climbed by 1.9million barrels over the past week. The EIA will release government data at 3:30pm GMT today.

Gold traded with high volatility and climbed as traders flocked to safe haven assets following the Rubles collapse. The price reversed back down, however, as the FOMC statement moves closer. Traders want to learn whether the Fed will repeat that rates will remain low for a ‘considerable time’ or instead provide an estimated date.

 

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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) Fed Focus

Investors will be monitoring the Federal Reserve news conference at 2:00pm ET to gauge what Fed chair Janet Yellen is planning for monetary policy over the coming year.

The Fed previously reassured markets that any rate rise would be a "considerable time" away, but analysts say the language may be tweaked, despite the deflationary impact of plunging oil prices. The Fed has held its key short-term rate near zero since 2008.


2) Ready for a Rebound?

US stock futures are rising Wednesday, though the markets have been fickle lately, and CNNMoney's Fear & Greed index still shows investors are feeling fearful.


3) Ruble Steadying

The Russian ruble, which has plunged by over 50% since the start of the year, is rising by about 2% versus the U.S. dollar Wednesday.

The currency is stabilizing after enduring two consecutive days of heavy losses. Russian authorities are reportedly selling foreign exchange reserves.


4) International Markets Overview

All major European markets were declining in early trading.

Greece is voting for a new president Wednesday and Russian concerns are still top of mind, which has created a negative mood in Europe. Asian markets closed with mixed results.

 

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What is it? It checks change in the inflation-adjusted value of all goods and services produced by the economy.

It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? December 17th at 4:45pm Eastern Time.

 

 

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

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What is it? It's among the primary methods the Fed uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, along with commentary about economic conditions such as the future growth outlook and inflation. Most importantly, it provides clues regarding future monetary policy.

When? December 17th at 2:30pm Eastern Time.

 

 

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.

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What is it? It checks the interest rate at which depository institutions lend balances held at the Federal Reserve to other depository 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 17th at 2:00pm Eastern Time.

 

 

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

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