What is it? It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer.

When? At 1:30am Eastern Time.

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

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

All major global stock markets are sinking right now and U.S. stocks are set to open with significant losses.

Brace yourself, and read this. 

1) That sinking feeling

U.S. stock futures are all declining by about 1% and nearly every major stock market index in Europe and Asia is lower by roughly 1% to 3%.

Investors seem to be reacting to the yuan's slide against the U.S. dollar, which is creating uncertainty about global trade dynamics.

Many other emerging market currencies are declining across Asia, with the Indian rupee down about 1% to a two-year low versus the U.S. dollar.

On Tuesday, the Dow Jones industrial average lost 212 points, closing 1.2% lower. The S&P 500 also dropped 1% and the Nasdaq shed 1.3%. 

2) Oil at a six-year low

Crude oil futures are trading around a six-year low after posting a big drop Tuesday.

Crude settled at $43.08 per barrel on Tuesday, but the price has since recovered a bit.

The U.S. government is reporting crude oil inventories data at 10:30 a.m. ET, which could move prices again.

3) Earnings

Macy's (M) and Alibaba (BABA, Tech30) are among the companies reporting quarterly earnings before the opening bell.

Cisco (CSCO, Tech30) and Rupert Murdoch's News Corp (NWS) will report after the close. 

4) Stock market mover

Fossil, Apple: Shares in Fossil (FOSL) were dropping by just over 7% in extended trading as investors react to the latest quarterly figures released on Tuesday afternoon.

Apple (AAPL, Tech30) shares are also dipping by about 2%.

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What is it? Although this data is extremely late relative to retail data from other countries, it's the primary gauge of consumer spending and tends to create hefty market impact. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

When? At 6:45pm Eastern 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? This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes.

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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What is it? It's the primary gauge of consumer spending, which accounts for the 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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What is it? Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

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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12

Aug

Successful trading depends on selecting the right strategy.

1. Google (NASDAQ:GOOGL) Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose.

2. Gold prices rallied to a three-week high on Tuesday before paring some of those gains as investors assessed the implications of China's move to devalue its currency by the most in two decades.

3. U.S. stocks fell in early trading on Tuesday in a broad-based retreat as China's surprise devaluation of the yuan pushed the dollar higher and pressured commodity-related shares.

4. Crude oil futures tumbled on Tuesday, after the Organization of the Petroleum Exporting Countries said it pumped the most crude in more than three years last month, adding to concerns over a glut in global supplies.

5. The euro rose to one-and-a-half week highs against the dollar on Tuesday after an unexpected devaluation of the yuan by China’s central bank prompted investors to unwind euro-funded positions on the Chinese currency.

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