What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the services industry.

It's positively correlated with interest rates - early in the economic cycle an increasing supply of money leads to additional spending and investment, and later in the cycle expanding money supply leads to inflation.

When? January 6^th at 3:15am Eastern Time.

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

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US markets finished mixed on Friday following weaker than expected data. Volatility remained low as many traders took a long weekend after the New Year’s celebrations.

Asian markets were mixed today. The Nikkei lost 0.24% after a 5 day holiday. Losses were seen as the Yen strengthened slightly as a safe haven asset on the back of events in Europe which sent the Euro to its lowest level in 8 years.

European markets are lower today after the Euro dropped to an 8 year low. Speculation is ripe that the European Central Bank will introduce further stimulus to avoid deflation following comments from Draghi last week. However, fears have surfaced over political developments in Greece. Elections will occur on January 25 and if the far left part, Syriza, gain power they could get rid of the austerity program.

Oil dropped to a new 6 year low $50.7/barrel. The market continues to react to fears regarding increasing supplies and falling demand. The price is very close to a key psychological of $50/barrel and if it breaks through this many producers may be forced to cut production as costs will exceed prices.

Gold is climbing as a safe haven asset and as physical demand increased from China. The price is currently testing its resistance as $1,200.

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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) Euro Slump Deepens

The euro continues to plunge against the US dollar as concerns intensify that Greece may be forced to leave the eurozone if the country elects a radical, anti-austerity government at the end of the month.

"The euro breached $1.20 overnight, and continues to trade below that important technical level," said Tom Beevers, CEO at StockViews in London.

The euro has been declining as the US dollar strengthens and Europe teeters on the brink of recession and deflation.

2) Oil Slides Again

Crude futures are slipping by about 1% and are now trading around $52 per barrel. Oil prices were halved last year as the world faced a supply glut.

"Increasing oil production -- particularly from Russia and Iraq -- coupled with fears for weaker global demand, has continued to push oil lower," said Beevers.

3) Consumer Electronics Show

It's a big week for many technology firms as the International Consumer Electronics Show gets underway.

CES, which runs through Thursday, has been the launchpad for some stunning hits, but also some epic flops.

The Las Vegas show features more than 3,600 exhibitors and is attended by roughly 160,000 people.

4) Stocks Send Mixed Messages

US stock futures are inching lower ahead of the open, but the move is small.

European markets are bouncing around in early trading, with no clear upward or downward trend.

Asian markets ended with mixed results. The standout performer was the Shanghai Composite index, which surged by 3.6% over the course of the day.

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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the services 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? January 5^th at 8:45pm Eastern Time.

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

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What is it? It checks the difference in value between imported and exported goods and services during the reported month.

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? January 5^th at 7:30pm Eastern Time.

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

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What is it? Williams is due to participate in a panel discussion titled "Housing, Unemployment, and Monetary Policy" at the American Economic Association Conference, in Boston.

Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

When? January 5^th at 8:00am 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? 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.

When? January 5^th at 4:30am Eastern Time.

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

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What is it? It checks the change in the number of unemployed people during the previous month.

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? January 5^th at 3:00am Eastern Time.

Trading Tip: If the number is lower than the forecast, you can expect the EUR to rise.

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What is it? It checks the Change in the price of goods and services purchased by consumers.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

When? January 5^th All Day.

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

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