What is it? It checks the interest rate at which the BOE lends to financial institutions overnight.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? December 4^th at 7:00am 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 climbed after strong Construction Spending data and auto sales. A speech from the Vice Chairman of the Fed, Stanley Fischer, also rocked markets.

Asian markets were mixed today. The Nikkei climbed 0.32% as the Dollar strengthened further against the Yen, climbing to 119.2.

European markets are mixed today. Markets are awaiting tomorrow’s press conference from the ECB as they expect the bank to increase stimulus measures.

Oil declined after reports that Iraq had made an agreement with the Kurdish government. Worries surfaced that oil production could increase and add even more supply to the market. The price declined despite a report from the API which showed US supplies decreased by a higher amount than expected. The EIA will also be releasing inventory data at 3:30pm (GMT) today.

Gold declined as fears over low oil prices subsided and the Dollar rallied. The metal is currently trading around $1200/barrel as the market searches for direction. Traders should focus on US data later in the session including the ISM Non-Manufacturing PMI and Beige Book release.

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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) Oil Bounces

Oil prices were clawing back more ground -- rising about 1% to $67.40 a barrel in electronic trade -- after taking a beating following OPEC's decision not to cut production last week. That was seen as an attempt to choke off the US shale boom.

2) Mixed Leads

International markets were giving out mixed signals. European stocks notched modest gains in early trading, with Germany's DAX moving higher while the UK FTSE 100 index dipped.

The UK government is set to announce new economic forecasts, and tax and spending plans.

Asian markets also diverged. Hong Kong's Hang Seng shed 1% while the Shanghai Composite extended recent gains to close at a fresh three-year high.

3) Economic Highlights

It's a light day for economic news. The ADP's monthly employment report is due out at 8:15am. ET, followed by the Fed's Beige Book at 2:00pm ET. The monthly report gives anecdotal information about the economy from the 12 regional banks.

4) Earnings Updates

Retailer Abercrombie & Fitch (ANF) and Brown-Forman (BFA), the maker of Jack Daniel's Tennessee Whiskey, will report earnings before the opening bell. Retailers Aeropostale (ARO), New York & Co (NWY), Pacific Sunware (PSUN) and Tilly's (TLYS) will report after the close

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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? December 3^rd 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? 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 3^rd 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? Governor Poloz is due to speak the Canada Summit, in Toronto.

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? December 3^rd at 5:30pm 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 level of a diffusion index based on surveyed purchasing managers, excluding 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? December 3^rd 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 checks the Interest rate at which major financial institutions borrow and lend overnight funds between themselves.

Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.

When? December 3^rd at 10:00am Eastern Time.

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

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What is it? It's the primary tool the BOC uses to communicate with investors about monetary policy. It contains the outcome of their decision on interest rates and commentary about the economic conditions that influenced their decision. Most importantly, it discusses the economic outlook and offers clues on the outcome of future decisions.

When? December 3^rd at 10:00am Eastern Time.

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

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