What is it? Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to respond by raising interest rates. The average price of various goods and services are sampled and then compared to the sampling done a year earlier.

When? At 9:30pm Eastern Time. 

Trading Tip: If the actual number is higher than the forecast, you can expect the CNY 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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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

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? This document outlines the government's budget for the year, including expected spending and income levels, borrowing levels, financial objectives, and planned investments. Domestic government spending and borrowing levels can have a significant impact on the economy - increased spending generates work for contractors and creates jobs, while borrowing levels impact the nations credit rating and provide insight into the nation's underlying fiscal position.

When? At 7:30am Eastern Time.

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

  

 

 

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What is it? It's an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building.

When? At 8:30am Eastern Time.

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

  

 

 

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What is it? It's a detailed record of the FOMC's most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates.

When? At 2:00pm Eastern Time.

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

 

 

 

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1. The U.S. dollar rose to fresh three-month highs against its Canadian counterpart on Tuesday, as the greenback remained broadly supported by concerns over a potential Greek exit from the euro zone and as downbeat Canadian data dampened demand for the local currency.

2. U.S. stocks opened higher before quickly reversing course on Tuesday morning, setting the stage for another volatile session as investors await the outcome of a euro zone summit that will attempt to find a solution to the ongoing debt crisis in Greece.

3. China's stock markets are in trouble. The Shanghai Composite Index has fallen over 25% since mid-June. The Shenzhen, which has more tech companies and is often compared to America's Nasdaq Index, is down even more.

4. Oil prices plunged nearly 8% and broke below $53 a barrel on Monday, the deepest plunge for crude oil since early February.

 

 

 

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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:

  

Greece, China and Iran are all in the spotlight today.

  

1. Resuming Greek negotiations:

European finance ministers and heads of state are meeting Tuesday to discuss how to help Greece out of its economic hole. Greece is asking its European creditors for further bailout money, but leaders are reluctant to give in to the nation's demands since they doubt the country's ability to repay any new debts.

Greece defaulted on a debt payment last week to the International Monetary Fund.

The nation has already received two huge international bailout packages since 2010 with a value of roughly 240 billion euros ($264 billion).

European markets are mixed in early trading as investors wait for the talks to begin.

U.S. stock futures are edging up.

 

2. Volatile China:

Key Chinese stock markets took another tumble Tuesday, with the Shanghai Composite dipping by 1.3% and the Shenzhen index down by 5.3%.

The Shanghai Composite has fallen roughly 30% from its recent high in mid-June, and the Shenzhen Composite has plunged by nearly 40% from its peak.

Chinese authorities announced measures over the weekend that were designed to prop up the markets, but it's too early to say whether they'll stop the bleeding.

State media is reporting that many Chinese companies are simply taking themselves out of the firing line by suspending trading in their shares.

 

3. Iran talks influence oil:

Investors are waiting for further developments out of Iran.

Negotiators from Iran, the United States, China, Germany, France, Britain and Russia are trying to reach a deal to lift sanctions against Iran in exchange for assurances that the country will maintain a peaceful nuclear program.

If they are able to reach a deal, Iran intends to quickly ramp up oil exports.

The prospect of a deal sent oil prices tumbling Monday. Now crude futures are moving back up by about 1% to trade just over $53 per barrel.

"It is important to emphasize that it will take some time for Iranian oil to hit the market, but certainly traders are willing to price that factor as the story develops further," said Naeem Aslam, chief market analyst at AvaTrade.

 

4. Earnings:

The Container Store (TCS) will report its latest quarterly results after the markets close.

 

 

 

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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 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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