What is it? It checks the annualized number of new single-family homes that were sold during the previous month.

It's a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect. For example, furniture and appliances are purchased for the home, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

When? February 25^th at 10:00am 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? Fed Chair Yellen is due to testify on the Semiannual Monetary Policy Report before the House Financial Services Committee, in Washington DC.

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? February 25^th at 10:00am Eastern Time.

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

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What is it? Governor Carney is due to speak at the OneBank Research Agenda launch, in London.

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? February 25^th at 5:00am Eastern Time.

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

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During today’s early trading session, Asian markets traded higher as the Yen weakened against a basket of major currencies. Weak data from Japan and a dip in oil prices this morning have contributed to the decline of the JPY and in turn drove investors towards the stock market.

During the European session, the Euro was trading steady against the Dollar and slightly up against the Yen, as important economic data remained unchanged. The German GDP and the European CPI showed as expected figures. European Central Bank President Mario Draghi is currently speaking and therefore we may witness higher volatility as traders listen closely to hints on future monetary policy. European stocks are little changed as investors continue to keep their eye on the current situation in Greece.

During early US trade, the Dollar remains supported against a basket of major currencies, although trading with little volatility as market spectators await Federal Reserve Chair Janet Yellen’s testimony. High volatility in the markets is usually seen during the second part of the assembly, as the committee holds a question and answer session. Traders will scope her words for any clues on future monetary policy. Later this evening the Reserve Bank of New Zealand’s Governor Graeme Wheeler will be speaking about the country’s current economy and future outlook.

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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:

1) It's All About the Fed

Federal Reserve chair Janet Yellen will give her semi-annual monetary policy report to Congress this week. She will first testify before the Senate on Tuesday at 10am ET. Then she'll appear before the House on Wednesday at the same time.

Markets will be watching Yellen's comments closely.

The stakes are incredibly high as the Fed debates when to raise interest rates off their historic lows near zero. If the Fed times the increase correctly, the U.S. economy will continue to lift off. If the Fed gets the timing wrong, America could end up in another recession.

2) Slippery Oil Politics

There's been talk that OPEC could hold an emergency meeting to discuss the recent sharp drop in oil prices.

Nigeria's oil minister, who also acts as president of OPEC, told the Financial Times Monday that the crash in crude oil prices could cause the cartel to reconvene.

In theory, this meeting could open the door for a cut in production to push prices higher. But Saudi Arabia -- OPEC's most powerful member -- has been vocal about its opposition to cutting output.

And markets seem to be playing down the chances of a change in OPEC policy. Crude futures are slipping by about 1% Tuesday to trade at $49 per barrel.

3) Greece Still in Focus

The Greek government has submitted a list of planned economic reforms to its international creditors, which is the latest move required to ensure that Greece continues to get financing to pay its bills and debts.

Now the list will have to be approved by various creditors, including its Eurozone partners, the International Monetary Fund and the European Central Bank. Officials will review the proposals later Tuesday.

The Greek government is looking for ways to revive its economy and satisfy voter demands, while also dealing with an enormous debt burden.

4) Market Moves

There's not a lot of movement in the stock market right now.

U.S. stock futures are flat, European markets are slipping in early trading and most Asian markets closed the day with gains.

In London, shares in BHP Billiton (BBL) are surging by 3.5% after the oil and mining group posted a shallower fall in profits than expected.

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What is it? It checks the level 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.

When? February 24^th at 8:45pm 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? Governor Wheeler is due to testify on the RBNZ Annual Report before the Parliament Select Committee, in Wellington.

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? February 24^th at 6:40pm Eastern Time.

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

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What is it? Governor Poloz is due to speak at Western University, in London.

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? February 24^th at 2:00pm Eastern Time.

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

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