What is it? 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? At 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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What is it? 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.
When? At 8:30 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? This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? At 8:30 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? It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer.
When? At 8:30 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? This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts.
When? At 8:30 Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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What is it? 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? At 8:10am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.
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1. Wall Street opened higher on Thursday as data pointed to a strengthening U.S. economy and the European Central Bank indicated it could prolong its stimulus program.
2. U.S. stocks opened higher Thursday, with the Dow Jones Industrial Average gaining 100 points after the European Central Bank (ECB) kept benchmark interest rates unchanged, hovering at historic lows. Investors also weighed jobless claims data ahead of the all-important employment report for August, due out Friday.
3. Service sector activity in the U.S. grew at a faster rate than expected in August to hold near a ten-year peak, boosting optimism over the health of the economy and supporting the case for a rate hike later this month, industry data showed on Thursday.
4. FOREX - The euro was sharply lower against the dollar on Thursday after the European Central Bank indicated that it could expand its quantitative easing program amid increased downside risks to its inflation outlook.
5. NEW YORK - U.S. services sector growth edged ahead during August from July to its highest level since May, signaling the United States was on track for solid third-quarter expansion, an industry report showed on Thursday.
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It's shaping up to be a good day for investors. U.S. stock futures are poised for gains Thursday and global markets were pushing higher.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) Central bank watch
All eyes will be on the European Central Bank and its monthly policy meeting. The impact of falling commodity prices and easing global growth are likely to be addressed, along with the progress of a massive stimulus program launched by the bank this year to revive the region's fragile economy.
"Expect to see downgrades to the bank's inflation forecasts, and a promise to do more if needed," said CMC Markets analyst Michael Hewson.
As central bankers and finance ministers from the G-20 group of leading economies gather in Turkey, the International Monetary Fund warned of the risks to global growth and urged advanced economies to keep fiscal and monetary policy loose.
Elsewhere, Sweden's central bank kept its key interest rates unchanged at negative 0.35%.
2) Oil slips
The other big market headache -- oil -- found firmer footing Thursday. Crude edged down 0.2% to hover above $46 a barrel. Volatility has gripped oil trading in recent months as oversupply and slowing global growth weigh on prices.
3) China closed
Markets in China are shut for a two-day holiday, giving investors a breather after weeks of wild trading sparked turmoil on indexes around the world.
4) Earnings and economics
Companies including Campbell Soup (CPB) and Lands' End (LE) will report ahead of the open. Another handful of firms will report this afternoon.
A couple of economic releases to watch: The Labor Department releases weekly jobless claims data at 8:30 a.m. ET, ahead of the closely watched non-farm payroll data due out Friday.
Also at 8.30am ET, the Census Bureau will report July's trade deficit numbers.
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What is it? 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? 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? This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes.
When? At 8:30am 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? 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? At 8:30am 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? It's the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy.
When? At 8:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.
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What is it? A positive number indicates that more goods were exported than imported. About 65% of Canadian exports are purchased by the US. 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? At 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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1. U.S. stocks rose more than 1 percent in early trading on Wednesday, rebounding from steep losses a day earlier, after fresh intervention from China to support its markets helped ease a global equities selloff.
2. U.S. private employers maintained a solid pace of hiring in August despite recent global financial market turmoil, suggesting that labor market momentum likely remains strong enough for the Federal Reserve to consider an interest rate hike this year.
3. New orders for U.S. factory goods rose for a second straight month in July on strong demand for automobiles, which could help to keep manufacturing supported as it deals with a strong dollar and softening global demand.
4. Oil prices fell on Wednesday as concerns about the global economy exacerbated worries that an oversupply of crude could last longer than expected.
5. The dollar remained higher against the other major currencies on Wednesday, even after data showed that U.S. non-farm private employment rose less than expected in August ans as concerns over the global economic outlook persisted.
6. U.S. factory orders rose less than expected in July, dampening optimism over the health of the economy, official data showed on Wednesday. In a report, the U.S. Census Bureau said factory orders increased by a seasonally adjusted 0.4% in July, missing forecasts for a gain of 0.9%.
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It looks a little safer to wade back into stocks Wednesday. But just a little.
U.S. stock futures are rising though global investors remain cautious as volatility continues to sweep through markets.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) China swings
It was another day of wild trading in China. The Shanghai Composite index pared sharp early losses to close down 0.2%, while the smaller Shenzhen index lost 2%. Beijing has acted aggressively in recent months to prop up stocks after a crash beginning mid-June wiped out all this year's gains.
The market crash, coupled with renewed fears about slowing growth in China, rattled global markets and led to a punishing August for investors.
2) Oil sinks
More pain for oil producers as crude slides 2% to trade below $45 a barrel. Oil has been on a roller coaster ride this week -- surging above $50 a barrel on Monday -- before resuming its slide.
Fears about easing global growth and oversupply are still weighing on prices.
3) Earnings & economics
Vera Bradley (VRA) is among a small group of companies reporting earnings today.
There's a handful of economic releases to look out for Wednesday, kicking off with ADP August employment numbers at 8:15 a.m. ET.
At 8.30am ET, the Bureau of Labor Statistics is due to report revised productivity numbers for last quarter. The Census Bureau will put out new factory order figures for July at 10.30am ET.
The newest beige book, which contains information about current economic conditions from regional Federal Reserve banks, will be released at 2 p.m ET.
4) International markets overview
European markets are drifting lower in early trading, with Germany's DAX index down 0.2% and the U.K.'s FTSE index shedding 0.25%.
Shares in Ryanair (RYAAY) bucked the trend in London, rising 2.2%, after the low-cost airline delivered strong passenger numbers for August.
Asian markets mostly ended with losses. Japan's Nikkei index dropped 0.4% and Hong Kong's Hang Seng index lost 1.1%. Australian markets shrugged off disappointing second quarter GDP figures to close flat.
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What is it? 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? At 9:30pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the AUD to rise.
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What is it? This is the earliest look at vital consumer spending data. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
When? At 9:30pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the AUD to rise.
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What is it? Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? At 8:15am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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