What is it? It checks the change in the number of barrels of crude oil held in inventory by commercial firms during the past week.

It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.

When? May 20^th at 10:30am Eastern Time.

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What is it? It checks the change in the total value of sales at the wholesale level.

It's a leading indicator of consumer spending - retailers generally order more goods from wholesalers when they expect consumer sales to increase.

When? May 20^th at 8:30am Eastern Time.

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

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"Thank you for the good service given to me, I really appreciate it, more of it. I am happy to be one of your client.

Thank you very much sir."

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

1. Stocks surging

U.S. stock futures are rising, giving investors hope that the Dow Jones industrial average and S&P 500 could smash new records.

Both indexes hit fresh closing highs Monday. The Nasdaq also rose by 0.6%.

2. International overview

There's a lot going on in Europe right now. European stock markets are rallying in early trading, with both the CAC 40 in France and the DAX in Germany shooting up by about 2%.

European government bonds are also firming, and the euro has fallen by just over 1% versus the U.S. dollar.

Investors are reacting to comments from a senior official at the European Central Bank, who was reported to have said the ECB would step up its bond-buying in May and June before liquidity tails off over the summer. The asset buying is part of the ECB's stimulus program to kill off eurozone deflation and boost the economy.

Asian markets mostly ended with positive results. The Shanghai Composite led the pack with a gain of 3.1%.

3. Earnings

Get ready for a slew of retail earnings.

Walmart (WMT), Home Depot (HD), Dick's Sporting Goods (DKS) and TJX (TJX) are all reporting ahead of the open.

Meanwhile, Wall Street newbie Etsy (ETSY) is expected to report after the close. Shares in the company surged by nearly 90% immediately after the company went public in April, but they have since fallen back by roughly 30%.

4. Economics

The U.S. government will post monthly data on housing starts and building permits at 8:30 a.m. ET.

And across the pond, U.K. inflation data shows consumer prices fell in April by 0.1%, making this the first time the nation has experienced deflation since official records began in 1996. However, many officials expect this to be a one-off blip, not the start of a deflationary spiral.

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What is it? It checks the change in the inflation-adjusted value of all goods and services produced by the economy.

It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? May 19^th at 7:50pm Eastern Time.

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

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What is it? Governor Poloz is due to speak at the Chamber of Commerce, in Charlottetown.

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? May 19^th at 11:45am 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 checks the annualized number of new residential building permits issued during the previous month.

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

When? May 19^th 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 checks the change in the price of goods and raw materials purchased by manufacturers.

It's a leading indicator of consumer inflation - when manufacturers pay more for goods the higher costs are usually passed on to the consumer.

When? May 18^th 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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