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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.

When? November 7th at 8:30am Eastern Time.

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

When? November 7^th at 8:30am Eastern Time.

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

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What is it? It checks the change in the number of employed people during the previous month.

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

When? November 7^th at 8:30am Eastern Time.

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

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What is it? Governor Carney is due to participate in a panel discussion titled "Central Banking: The Way Forward" at the International Symposium of the Banque de France, in Paris.

As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

Usual Effect: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.

When? November 7^th at 5:15am Eastern Time.

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

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US stocks climbed and reached new levels once again. Markets were boosted by data and political events.

Asian markets turned lower today. The Nikkei first gained as the Dollar rallied to a 7 year high against the Yen, reaching a high of ¥115.5

European markets are mixed today as traders turned hesitant ahead of the ECB interest rate decision and press conference. Analysts do not expect any changes to be introduced.

Oil stopped declining. The EIA reported that oil only increased by 460,000 barrels, much lower than the expected growth of 1,900,000 barrels. Sentiment was also higher due to midterm elections, positive data and better than expected corporate earnings.

Gold is trading around a 4 year low around $1,144.7. The metal broke through its support level yesterday as the Dollar soared. Analysts believe that the price could now drop to $1000/ounce as the safe haven appeal has worn off as the economic outlook for the U.S continues to improve. The price could now begin to range ahead of tomorrow’s Nonfarm Payroll report.

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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) Earnings

Some of the big names reporting earnings before the opening bell include AOL (AOL, Tech30), AstraZeneca (AZN), Cablevision (CVC), and DirecTV (DTV). Walt Disney (DIS) and Zynga (ZNGA) will post after the close.

In Europe, investors will be parsing through earnings from Adidas (ADDYY), Commerzbank (CRZBY), Siemens (SIEGY) and fashion brand Hermes (HESAY).

2) Oil

OPEC will present its World Oil Outlook at 8:30am ET. Traders are hoping it will give more insight into long term plans for oil production and prices.

Crude oil prices have fallen by about 26% since the middle of June and are currently trading below $79 per barrel in New York, which is squeezing many nations that depend on energy exports.

3) Economics

There's a focus on US jobs this morning. The US government will post weekly jobless claims at 8:30am ET. The Challenger Job Cuts report for October will also be out at 7:30am.

Central banks are also top of mind: Traders are waiting on the European Central Bank to issue its latest monetary policy decision at 7:45am ET and hold a news conference at 8:30am.

The Bank of England will also issue its policy decision this morning.

4) International Markets Overview

All the major European markets were declining in early trading.

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What is it? It provides valuable insight into the bank's view of economic conditions and inflation - the key factors that will shape the future of monetary policy and influence their interest rate decisions.

When? November 6^th at 10:00am Eastern Time.

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

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