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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Other top stories:

RBA Gov Stevens Speaks (AUD)

Overnight Rate (CAD)

4 Tips for Today's Trading - 22/10

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