What is it? It checks the difference in value between imported and exported goods, services, income flows, and unilateral transfers during the previous quarter.

It's directly linked to currency demand – a` rising surplus indicates that foreigners are buying more of the domestic currency to execute transactions in the country.

When? December 23rd 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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US markets finished the week higher, gaining for a third session. Investors continued to react to the FOMC statement and press conference.

Asian markets climbed across the region. The Nikkei gained 0.08% as the Dollar closed higher against the Yen, nearing the key psychological level of 120.

European markets climbed for a fifth day as the Swiss National bank introduced a negative deposit rate. Speculation is also ripe that the ECB could start to buy government bonds.  The situation in Greece also looked to slightly improve after the Prime Minister offered a solution to help avoid elections next year. Volatility is expected to decline across all markets before closures for Christmas Eve, Christmas Day and Boxing Day in some European countries.

Oil climbed to a high of 58.4 but then bounced downwards and is notrw trading around 55.5. Over the weekend the energy minister of Saudi Arabia repeated that they will not cut production and blamed non OPEC countries for the glut. In addition, a Barclay’s analyst stated that prices still have further to fall and KCB Energy Economics said they expect prices to be lower through 2015.

Gold declined and almost reached 1,180/ounce. Traders are still weighing the US interest rate hike and the outlook for the US Dollar against economic instability and oil prices.

 

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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) Festive Run Continues

US stock futures are all pointing higher following three consecutive days of big gains.

Markets are still drawing support from comments last week from Federal Reserve chair Janet Yellen, who said the central bank would be very "patient" before raising interest rates.


2) Sony in Focus

Sony (SNE) shares will be closely watched Monday after the attorney representing Sony Pictures said over the weekend that the studio is "still exploring options" for distributing the controversial film "The Interview." The shares were up 1% in Japan.

In a CNN interview on Friday, Sony Entertainment CEO Michael Lynton said the studio had not "given in" to pressure from hackers and was still considering ways to distribute the movie.


3) Global Stock Market Overview

Most major European markets gained about 1% in early trading.

In London, large oil companies are performing well, helped by higher oil prices. Royal Dutch Shell (RDSB) is leading the gainers with a 2.5% surge.

Over in Asia, all the major stock markets closed with solid gains. Australia's key index led the way with a 1.9% jump.

Firmer oil is also helping Russian markets. The ruble is rising against the dollar, trimming its losses for the year to 42%.


4) Economic Data

At 10:00am ET, the latest monthly figures on US existing home sales will be released.

 

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What is it? It checks the difference in value between imported and exported goods 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? December 22nd at 4:45pm Eastern Time.

 

 

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

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What is it? It checks the annualized number of residential buildings that were sold during the previous month, excluding new construction.

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

When? December 22nd at 10:00am Eastern Time.

 

 

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

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What is it? It's a detailed record of the BOE Financial Policy Committee's most recent meeting, providing in-depth insights into the financial conditions, powers for direction on capital requirements, and decisions towards financial stability.

When? December 22nd at 4:30am Eastern Time.

 

 

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

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What is it? It checks the change in the price of imported goods purchased domestically.

It contributes to inflation for businesses and consumers, especially those who rely heavily on imported goods.

When? December 22nd at 2:00am Eastern Time.

 

 

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

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What is it? It contains the statistical data that the BOJ Policy Board members evaluated when making the latest interest rate decision, and provides detailed analysis of current and future economic conditions from the bank's viewpoint.

When? December 22nd at 12:00am Eastern Time.

 

 

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

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

It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

When? December 19th at 8:30am Eastern Time.

 

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

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