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What is it? It's the primary tool the BOC uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

When? April 15^th at 10:00am Eastern Time.

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

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What is it? It's the primary method the ECB 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, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy.

When? April 15^th at 8:30am Eastern Time.

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

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What is it? It checks the change in the total value of sales made by manufacturers.

It's a leading indicator of economic health - manufacturers are quickly affected by market conditions, and changes in their sales can be an early signal of future activity such as spending, hiring, and investment.

When? April 15^th at 8:30am Eastern Time.

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

JPMorgan Chase (JPM), Wells Fargo (WFC), and Johnson & Johnson (JNJ) are all reporting quarterly results ahead of the open.

Wall Street will be keeping a close eye on JPMorgan CEO Jamie Dimon as he comments on his bank's latest earnings during a morning conference call.

Last time around, Dimon said the bank was "under assault" by regulators.

2. More M&A?

Nokia (NOK) confirmed Tuesday it is in "advanced discussions" to buy Alcatel-Lucent (ALU). Both firms provide equipment, infrastructure and support to the telecommunications industry.

Shares in Nokia were declining by 7% in Europe, while shares in Alcatel-Lucent were surging by about 12%.

3. Stock market overview

U.S. stock futures are looking steady ahead of the open. European markets are mixed in early trading.

Asian markets ended the day with mixed results. In Hong Kong, the main index closed with a loss of 1.6% Tuesday after staging an awe-inspiring rally over the last few days. The Hang Seng has risen by about 17% since the start of the year.

Recapping Monday's performance, both the Dow Jones industrial average and S&P 500 fell back by 0.5%. The Nasdaq slid 0.2%.

4. Economics

The International Monetary Fund is launching its influential "World Economic Outlook" report at 9 a.m. ET. The IMF uses this biannual report to forecast economic trends around the globe.

In the U.S., the Census Bureau is reporting March retail sales data at 8:30 a.m. ET.

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During the Asian session, stocks in Hong Kong dropped for the first time in 8 trading days. We should remember that the HSI previously finished at its highest level since December 2007 and exceeded the psychological level of 28,000. Today the price returned down and erased 1.62%. This can be attributed to profit taking. On the other hand, the Shanghai index continued to climb and added 0.34%. This was supported by higher Chinese New Loans data. If we look at the Australian market, we can see how negative data for copper and iron hurt the stock market.

During the European session we should watch for a possible price correction on the EUR/USD as the price slightly climbed yesterday but with no fundamental causes. European Industrial Production, which is another way how to measure economic output, grew at a higher rate than estimated. However, the recent ongoing crisis over Greek debt pushed the single currency down.

During the U.S. session, we should pay attention to the U.S. Retail Sales data which is expected to be the strongest in one year. In addition, the earnings report period has started and today we watch Johnson&Johnson, Intel, Wells Fargo and JPMorgan Chase. If figures are strong, these stocks should rally.

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