Yesterday, the FOMC Meeting Minutes were released following the Feds two day meeting. Following the release US stocks declined.

Asian markets were mixed. The Nikkei climbed 0.647% as the Dollar strengthened against the Yen after the FOMC statement.

European markets are lower today. The German Unemployment Change was released and was significantly better than expected. Investors instead, focused on the Fed statement and sentiment dropped.

Oil climbed after the EIA released inventory data. The data showed supplies to increase by a lower amount than expected.

Gold lost its appeal as a safe haven asset as the Fed showed confidence in the economy. Many are now speculating that the Fed could be inclined to raise rates sooner and this dampens the appeal further.

 

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What is it? It's among the primary tools the BOJ 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 projects the economic outlook and offers clues on the outcome of future rate decisions.

When? October 30th at 8:30pm Eastern Time.

 

 

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

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What is it? It checks the change in the price of finished goods and services sold by producers.

It's a leading indicator of consumer inflation - when producers charge more for goods and services the higher costs are usually passed on to the consumer.

Usual Effect If the number is higher than the forecast, you can expect the AUD to rise.

When? October 30th at 8:30pm Eastern Time.

 

Trading Tip: This announcement can greatly affect the AUD, make sure to make your trades before.

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What is it? Fed chair Yellen is due to deliver opening remarks at the Board of Governors of the Federal Reserve System's National Summit on Diversity in the Economics Profession, in Washington DC.

As head of the central bank, which controls short term interest rates, she has more influence over the nation's currency value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy.

Usual Effect If the announcement will hint towards higher interest rates, you can expect the USD to rise.

When? October 30th at 9:00am Eastern Time.

 

Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.

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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) Get Ready for GDP

At 8:30am ET, the US Bureau of Economic Analysis will release its first official reading of gross domestic product for the third quarter.

It's widely expected the economy grew by 3%, which would be solid, but not great.

Keep in mind, the first estimates for quarterly GDP tend to be a little off. The numbers aren't set in stone and will eventually be revised.

Also at 8:30, the Department of Labor will post data on weekly jobless claims.


2) Market Moves

US stock futures are not moving too much from their Wednesday closing levels.

One stand-out performer ahead of the open is Visa (V). Shares are pushing up by about 4% premarket after the company reported quarterly earnings that beat estimates.


3) Earnings

The New York Times (NYT), MasterCard (MA) and Kellogg (K) are set to report earnings before the opening bell.

LinkedIn (LNKD, Tech30), GoPro (GPRO), Groupon (GRPN) and Starbucks (SBUX) will report after the close.


4) International Markets Overview

European markets are mixed in early trading. The banking sector is looking particularly weak, especially among those banks that recently failed a regulatory health check.

Investors are watching various European economic figures coming in on unemployment, inflation and consumer confidence.

Asian markets were also muddled.

 

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What is it? It checks the the number of individuals who filed for unemployment insurance for the first time during the past week.

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. Unemployment is also a major consideration for those steering the country's monetary policy.

Usual Effect If the number is lower than the forecast, you can expect the USD to rise.

When? October 30th at 8:30am Eastern Time.

 

Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.

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What is it? It checks the annualized 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.

Usual Effect If the number is higher than the forecast, you can expect the USD to rise.

When? October 30th at 8:30am Eastern Time.

 

Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.

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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.

Usual Effect If the number is higher than the forecast, you can expect the EUR to rise.

When? October 30th all day.

 

Trading Tip: This announcement can greatly affect the EUR, make sure to make your trades before.

Talk to us to get get FREE signals and start earning now: 

 

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