What is it? It checks the level of a diffusion index based on surveyed purchasing managers.

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.

When? June 4th at 10:00am Eastern Time.

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

 

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What is it? It checks the number of individuals who filed for unemployment insurance for the first time during the past week.

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? June 4th 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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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

 

1. Markets overview

U.S. stock futures are declining and global bond prices are taking a dip. Currency markets are bouncing around, with the euro gaining against all major global currencies.

"[Currency] volatility remains on the high side at the moment, with the move in bond yields playing a major role," said Simon Smith, chief economist at FxPro.

All major European markets are falling in early trading, with the main French index dropping by nearly 2%. Traders are growing increasingly nervous that Greece will be unable meet debt repayments due this month. Greece and its creditors failed to reach an agreement in late night talks Wednesday.

Many Asian markets also ended in the red. The key Australian index dropped by 1.4% after the release of some disappointing economic data.

 

2. Potential market movers -- T-Mobile, Dish Networks

Shares in T-Mobile (TMUS) look set for a 6% surge Thursday and Dish Network (DISH) could also be on the move, based on reports that the companies are considering a merger.

A source told CNNMoney that the two companies are talking, confirming a report in The Wall Street Journal that outlined the possible merger.

Representatives for both companies declined to confirm or deny the talks.

 

3. Earnings

J M Smucker (SJM), Lands' End (LE) and Michaels (MIK) are reporting ahead of the open.

 

4. Wednesday market recap

Stock markets had a positive day Wednesday.

The Dow Jones industrial average was up 64 points, the S&P 500 added 0.2% and the Nasdaq climbed 0.5%.

 

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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? June 4th 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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What is it? It checks the difference in value between imported and exported goods and services during the reported month.

Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers.

When? June 3rd 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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