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US stocks sharply rose following a range of upbeat earnings and data. The strong data re- ignited speculation that the Fed could raise interest rates sooner than the second half of 2015.

Asian markets also saw strong gains. The Nikkei soared 2.64% higher as the Dollar made gains against the Yen.

European markets are higher today following news that the European Central Bank is considering purchasing corporate bonds.

Oil is trading choppy between $80.70/barrel and $82.70/barrel. Investors seem to be hesitant to place positions before next month’s OPEC meeting where a decision may be made to cut output as recent months have shown rising supplies and falling demand.

Gold climbed as weak US data led to speculation that interest rates could remain constant. However, yesterday’s strong US data pushed the price back down. The stock market is also rallying as earnings season is bringing mostly positive results. Climbing stocks cut demand for the metal as they act as an alternative investment.

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HSBC Flash Manufacturing PMI (CNY)

RBA Gov Stevens Speaks (AUD)

4 Tips for Today's Trading - 22/10

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What is it? It checks thelevel of a diffusion index based on surveyed purchasing managers in the manufacturing industry.

It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

Usual Effect: If the number is higher than the forecast, you can expect the CNY to rise.

When? October 22nd at 9:45pm Eastern Time.

Trading Tip: This announcement can greatly affect the CNY, make sure to make your trades before.

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RBA Gov Stevens Speaks (AUD)

Overnight Rate (CAD)

4 Tips for Today's Trading - 22/10

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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 raise interest rates out of respect for their inflation containment mandate.

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

When? October 22nd at 5:45pm Eastern Time.

Trading Tip: This announcement can greatly affect the NZD, make sure to make your trades before.

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RBA Gov Stevens Speaks (AUD)

Overnight Rate (CAD)

4 Tips for Today's Trading - 22/10

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What is it? RBA Governor is due to speak at the Annual General Meeting of the Australian Payments and Clearing Association, in Sydney.

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 AUD to rise.

When? October 22nd at 5:00pm Eastern Time.

Trading Tip: This announcement can greatly affect the AUD, make sure to make your trades before.

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Overnight Rate (CAD)

4 Tips for Today's Trading - 22/10

BOC Rate Statement (CAD)

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What is it? Bank of Canada Governor, Gov Poloz, is due to testify, along with Senior Deputy Governor Carolyn Wilkins, before the House of Commons Standing Committee on Finance, in Ottawa.

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 CAD to rise.

When? October 22nd at 3:30pm Eastern Time.

Trading Tip: This announcement can greatly affect the CAD, make sure to make your trades before.

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Overnight Rate (CAD)

4 Tips for Today's Trading - 22/10

BOC Rate Statement (CAD)

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What is it? It's among the primary method the BOC uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate decision, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy.

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

When? October 22nd at 11:15am Eastern Time.

Trading Tip: This announcement can greatly affect the CAD, make sure to make your trades before.

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Overnight Rate (CAD)

4 Tips for Today's Trading - 22/10

BOC Rate Statement (CAD)

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What is it? It checks the change in interest rate at which major financial institutions borrow and lend overnight funds between themselves.

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.

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

When? October 22nd at 10:00am Eastern Time.

Trading Tip: This announcement can greatly affect the CAD, make sure to make your trades before.

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4 Tips for Today's Trading - 22/10

BOC Rate Statement (CAD)

Core CPI (USD)

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