What is it? This is the earliest look at vital consumer spending data. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

When? 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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The U.S. dollar pushed higher against the yen on Wednesday, boosted by the release of upbeat U.S. economic reports and as ongoing concerns over Greece's financial situation lent broad support to the greenback.

USD/JPY hit 123.23 during U.S. morning trade, the pair's highest since June 26; the pair subsequently consolidated at 123.16, advancing 0.53%.

The pair was likely to find support at 121.91, Tuesday's low and a one-month low and resistance at 123.44, the high of June 22.

Oil prices fell to session lows Wednesday after data showing an unexpected build in U.S. oil stockpiles added to concerns over a global supply glut. On the New York Mercantile Exchange, crude oil for August delivery was last down 2.81% to $57.75 a barrel, from around $58.27 ahead of the report.

U.S. construction spending rose in May to its highest level in just over 6-1/2-years as outlays increased across the board, the latest sign of momentum

Construction spending increased 0.8 percent to an annual rate of $1.04 trillion, the highest level since October 2008, the Commerce Department said on Wednesday.

April's outlays were revised slightly to show a 2.1 percent gain instead of the previously reported 2.2 percent rise.The U.S. dollar pushed higher against the yen on Wednesday, boosted by the release of upbeat U.S. economic reports and as ongoing concerns over Greece's financial situation lent broad support to the greenback.

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What is it? 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. Survey of about 170 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

When? At 4:30am 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? This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

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

1. Greece stands alone:

The debt-ravaged country is on its own financially after it defaulted on a $1.7 billion payment to the International Monetary Fund - blocking it from the Fund's resources - and its European bailout expired.

The bankrupt country has asked for a new, third bailout from Europe. All eyes remain fixed on Sunday's referendum when Greeks will be asked to support - or reject - the earlier bailout. The vote could decide its future in the euro.

More meetings to watch today: Eurozone finance ministers will reconvene to consider Greece's latest debt proposals, while the European Central Bank discusses whether to keep its lifeline to Greek banks in place.

2. China stocks:

It was yet another wild day on Chinese markets. The Shanghai Composite spent much of the day in positive territory, before plummeting roughly 5% in the final hour of trading. Volatility has become the norm for Chinese investors in recent weeks, despite efforts by Beijing to stabilize the market, including cutting interest rates to record lows.

 3. Oil slides:

Crude prices took a tumble in electronic trading Wednesday, sinking 1.8% to just above $58 a barrel. Talks between world powers over Iran's nuclear program have been extended to July 7, raising the prospect that sanctions could be lifted and allowing the oil-rich nation to trade with the West. Big oil companies including Royal Dutch Shell (RDSA) have begun to forge business relationships with Iran in case that happens.

4. Economics and earnings:

The monthly U.S. employment report from ADP comes out at 8:15 a.m. ET. On the corporate front, General Mills (GIS) will report ahead of the open.

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What is it? A positive number indicates that more goods and services were exported than imported. 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? 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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What is it? It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income. The weighted-average price of the 9 dairy products sold at auction are sampled and then compared to the previous sampling.

When? No Exact Time.

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

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What is it? 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. Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

When? At 10:00am Eastern Time.

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

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What is it? Eurogroup meetings are usually held in Brussels and attended by the Eurogroup President, Finance Ministers from euro area member states, the Commissioner for economic and monetary affairs, and the President of the European Central Bank. They discuss a range of financial issues, such as euro support mechanisms and government finances. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering meeting objectives may be released after the meetings have concluded.

When? All Day

Trading Tip: This announcement can greatly affect the EUR so make sure to follow it!

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The dollar remained broadly higher against a basket of other major currencies on Tuesday, after data showed that U.S. consumer confidence improved more than expected in June and as an almost certain default by Greece continued to support safe-haven demand.

U.S. consumer confidence strengthened in June, bolstered by an improving jobs market, according to a private sector report released on Tuesday.

The Conference Board, an industry group, said its index of consumer attitudes rose to 101.4, matching the level set in March and higher than a downwardly revised 94.6 in May.

Economists had forecast a June reading of 97.3, according to a Reuters poll.

The May figure was originally reported at 95.4.

The report's hard-to-get jobs index fell to 25.7 last month from May's downwardly adjusted 27.2.

The euro remained weaker against the other major currencies on Tuesday after Greece requested a new two-year bailout program, just hours ahead of a deadline for what looked to be an almost certain debt default by Athens.

EUR/USD was at 1.1183, off 0.46% for the day, after falling as low as 1.0955 earlier.

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What is it? 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. Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.

When? At 4:30am 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? BOE Governor Jul 2013 - Jun 2018. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues. 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? At 5:30am 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? This data provides an early look at employment growth, usually 2 days ahead of the government-released employment data that it's designed to mimic. Source changed series calculation formula in Feb 2007, Dec 2008, and Nov 2012, to better align with government data. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity. ADP provides payroll services to US corporations, and they analyze data from around 400,000 customers to derive employment growth estimations.

When? At 8:15am Eastern Time.

Trading Tip: If the actual number is higher 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:

It's D-Day for Greece.

European stocks opened lower as Greece appeared set to watch a key debt deadline sail by. U.S. stock futures were edging higher.

1. Greek default?:

Giorgos Stathakis, Greece's economy minister, has told CNN that his country will most likely not pay the €1.5 billion ($1.7 billion) it owes to the International Monetary Fund on Tuesday, making it the first developed country to miss a payment to the IMF.

Greece's bailout program also expires Tuesday, and creditors have refused requests for extension, blocking the country's access to much-needed funds.

Greek banks are shut and capital controls in place as the country approaches a July 5 referendum which will decide its fate in the euro. Prime Minister Alex Tsipras has hinted that he will quit if the Greek people vote yes in the referendum, and support the bailout proposal he rejected.

2. China bounce:

It was another wild day in Chinese markets as volatile swings kept investors guessing about the direction of a market that has lost trillions of dollars of value in recent weeks.

The Shanghai Composite plunged in early trade, before bouncing to close up 5.5%. The swings come one day after the index dipped into bear market territory -- defined as a decline of 20% from recent highs.

3. Economics updates:

There's little on the economic slate Tuesday, though look out for the Conference Board's June consumer confidence index at 10 a.m. ET.

4. International markets overview:

European markets retreated in morning trading, with Germany's DAX down and France's CAC index off by 0.6%. The decline caps off a weak month for the indexes, both trading down more than 4% in June. The Athens market is closed this week.

Asian markets recovered from sharp losses to end Tuesday's session with gains. Japan's Nikkei index closed up 0.7%.

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