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? February 5th 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 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? February 5th 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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What is it? It's among the primary tools the MPC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.
When? February 5th at 7:00am 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 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? February 5th at 7:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the GBP to rise.
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During Today’s early trading session, Asian markets traded higher after Mitsubishi UFJ Financial Group’s strong report pushed up shares.
European stocks are trading lower today as concerns over Greece’s political situation continue to affect market sentiment, despite the hopes for a new Greek debt swap deal.
During early American trade, the US released mixed data showing a sharp decline in ADP nonfarm Employment change to 213k, below the expected figure of 225k, however, a positive ISM Manufacturing PMI showed a higher reading of 56.7. US stocks are slightly trading lower ahead of Fridays Nonfarm Payrolls release, however, losses are limited as oil prices stabilize.
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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) Premarket Movers -- Disney, Chipotle, Pharma & Jam
Shares in Disney (DIS) are rising by 4% premarket after the House of Mouse reported quarterly results that easily beat Wall Street expectations.
Shares in Chipotle (CMG) are slipping in extended trading after a whopping 26% jump in quarterly sales failed to satisfy investors.
Pharmaceutical stocks are also on the move. Shares in Gilead Sciences (GILD) are dipping by 4%. The company is reported to be offering larger-than-expected discounts on its pricey Hepatitis C drug.
Pfizer's (PFE) stock is up by 2% after the U.S. Food and Drug Administration granted accelerated approval for the firm's high profile breast cancer drug, Ibrance.
Shares in J. M. Smucker Company (SJM), known for its jams and food products, are up by about 5% premarket after the company said it was buying Big Heart Pet Brands for $3.2 billion.
2) Stocks Slipping
US stock futures are edging lower after markets closed with impressive gains on Tuesday. The Dow Jones industrial average surged by 305 points, while the S&P 500 rose 1.4% and the Nasdaq gained 1.1%.
Much of Tuesday's rally was attributed to higher oil prices. A recent crash in oil prices has spooked investors over the past few months.
Crude futures are slipping back to about $51.50 per barrel, but that's still much higher than last week when oil was trading below $44.
3) Expecting Earnings
Sony (SNE) came out with a preliminary forecast, predicting net income of 89 billion yen ($755 million) for the third quarter. It said it doesn't expect its annual earnings to take a hit from a major cyberattack that crippled computer systems at its Hollywood studio.
Last month, Sony asked regulators for an extension to file third quarter earnings due to the hack. Final results will be announced March 31.
4) Greek Drama Unfolds
Greece is still top of the agenda in Europe as political leaders and policy makers try to hash out a solution to the country's debt crisis. Greece's finance minister is at the European Central Bank, which could discuss whether to extend emergency support for the country's banks.
The main Greek stock market index is falling by about 6%, after staging a strong rebound the previous day.
The new government of the heavily indebted country revealed a plan this week to restructure its debts. The nation is hoping to swap debt for growth-linked bonds, but it is far from certain that European lenders and the International Monetary Fund will agree.
European markets are mostly declining in early trading, while Asian markets mostly closed the day with gains.
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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? February 4th at 7:30pm 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? 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? February 4th 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? It checks the level of a diffusion index based on surveyed purchasing managers.
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? February 4th 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? It checks the estimated change in the number of employed people during the previous month, excluding the farming industry and government.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? February 4th 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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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? February 4th at 4:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the GBP to rise.
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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) Markets Cheer Greek Proposals
Most European markets are rising by over 1%, and the main indexes in Spain and Italy are up by roughly 2%.
Investors were encouraged by reports that the Greek government is adopting a more measured approach to its debt standoff with Europe.
The main Greek index is up by 9% Tuesday, nearly erasing all the heavy losses endured since the start of the year.
2) Australia Lowers Rates
The Australian central bank is cutting its key interest rate by 25 basis points to a record low of 2.25%.
The Reserve Bank of Australia said its decision is based on expectations for low growth, both in Australia and globally, and weak domestic demand.
Australia's main stock market index jumped by 1.4%.
Across the rest of Asia, markets were mixed.
3) Earnings
The New York Times (NYT) and UPS (UPS) will report earnings before the opening bell.
Chipotle Mexican Grill (CMG), Aflac (AFL) and Disney (DIS) will report after the close.
4) Monday Market Recap
Over the previous trading session, the Dow Jones industrial average gained 196 points, while the S&P 500 jumped 1.3% and the Nasdaq rose 0.9%
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What is it? Governor Wheeler is due to speak at the Canterbury Employers' Chamber of Commerce, in Christchurch.
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? February 3rd at 6:00pm Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the NZD to rise.
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What is it? It checks the percentage of total work force that is unemployed and actively seeking employment during the previous quarter.
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? February 3rd at 4:45pm Eastern Time.
Trading Tip: If the actual number is lower than the forecast, you can expect the NZD to rise.
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What is it? It checks the change in the number of employed people.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? February 3rd at 4:45pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.
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What is it? It checks the change in the average price of dairy products sold at auction.
It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income.
When? February 3rd at 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the NZD 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? February 3rd at 4:30am Eastern Time.
Trading Tip: If the actual 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? February 3rd at 3:00am Eastern Time.
Trading Tip: If the actual number is lower than the forecast, you can expect the EUR to rise.
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