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What is it? Fed Chair Yellen is due to speak about monetary policy at the Federal Reserve Bank Conference titled "The New Normal for Monetary Policy," at San Francisco. Audience questions expected.

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

When? March 27^th at 3:45pm 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 annualized 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? March 27^th at 8:30am Eastern Time.

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

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During today’s early trading session, Asian stocks traded lower after Saudi Arabia and its allies launched airstrikes in Yemen creating cautiousness amongst market spectators. Furthermore, following the news of air strikes in Yemen, the price of oil rallied 6% over concerns of supplies from the oil rich region. Later today, Japan is to release a number of economic reports including the yearly household spending and the National Core CPI.

During the European session, the British pound dropped against the Dollar despite positive data. Positive sentiment for the Dollar continued after the U.S. released data showing that the Initial Jobless Claims showed a reading of 282,000, below the expected figure 290,000, this data supports past remarks made by Janet Yellen that an interest rate hike will be based on an improving labour market.

ECB President Draghi is currently speaking, currency traders will listen closely for any clues on future monetary policy and his comments may cause short term volatility in the markets.

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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. Saudi Arabia acts, markets react

The world's biggest and most powerful oil producing nation -- Saudi Arabia -- has launched airstrikes in neighboring Yemen, where rebels have intensified a violent campaign against the government. Saudi Arabia says it has the support of nine mostly Arab countries.

Traders reacted by swiftly bidding up the price of crude oil futures by about 5%. A barrel is now trading for roughly $51.50.

U.S. stock futures are continuing their drop from Wednesday. Each major U.S. index is down by about 1% premarket.

European markets are all declining by about 1% to 2% in early trading.

Most Asian markets closed with losses.

2. Stock market movers -- Airlines, SanDisk, Schlumberger

Shares in Delta (DAL) and American Airlines (AAL) are both declining premarket by about 4%. Lufthansa (DLAKY) shares continued to decline in the wake of Tuesday's Germanwings crash in the French Alps.

Shares in SanDisk (SNDK) are taking a major hit -- down by about 14% premarket -- after the technology company warned it will bring in lower-than-expected revenue in the first quarter.

Shares in oil field services firm Schlumberger (SLB) are rising by about 1% premarket. This comes after the U.S. Department of Justice said a Schlumberger subsidiary has been fined $233 million for violating U.S. sanctions against Iran and Sudan.

3. Earnings and economics

Apparel retailer Lululemon (LULU) and consulting firm Accenture (ACN) are reporting quarterly results ahead of the open.

Gamestop (GME) will report after the close.

The U.S. government will post data on jobless claims at 8:30 a.m. ET.

4. Wednesday market recap

Markets took a tumble Wednesday. The Dow Jones industrial average lost 292 points, while the S&P 500 fell 1.5% and the Nasdaq plunged 2.4%, its biggest drop in nearly a year.

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What is it? Governor Carney is due to hold a press conference about his role as Chair of the Financial Stability Board, in Frankfurt.

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.

When? March 26^th at 1:30pm Eastern Time.

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

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