What is it? It checks the interest rate on the main operations that provide the majority of liquidity to the banking system.

Short term interest rates are the dominant factor in currency valuation - traders look at most other indicators only to predict how rates will change in the future.

Usual Effect: If the actual number is bigger than the forecast, you can expect the EUR to rise.

When? Today (2.10) at 07:45am Eastern Time.

Trading Tip: The announcement can greatly affect the EUR, make sure to make your trade before.

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Construction PMI Announcement 2/10

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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the construction 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 actual number is bigger than the forecast, you can expect the GBP to rise.

When? Today (2.10) at 04:30am Eastern Time.

Trading Tip: The announcement can greatly affect the GBP, make sure to make your trade before.

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5 Tips for Today's Trading - 2/10

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The US stocks closed lower today as a result of disappointing US economic data. The Asian and European markets were low as well.

The only exception however was the Manufacturing Index which caused that Yen to rise against the Dollar.

Gold declined as the Dollar rose due to speculation that the Fed could raise interest rates sooner. Today however, the metal has made strong gains. Traders should watch the US data later today as it could change the current direction of the price.

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What is it? It checks the change in the number of new building approvals issued.

It's an excellent measure of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces jobs for the construction workers, subcontractors and inspectors, and various services are purchased by the builder.

Usual Effect: If the actual number is bigger than the forecast, you can expect the AUD to rise.

When? Today (1.10) at 09:30pm Eastern Time.

Trading Tip: The announcement can greatly affect the AUD, make sure to make your trade before.

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5 Tips for Today's Trading

September has Been a Bad Month for Trading

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