Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) Moving Into the Red
US stock futures are all heading lower, and the mood is downbeat.
Despite a decent rally on Thursday, market performance over the rest of the week has been lackluster. All the main US indexes look set to close the week with losses.
The main European markets were down by about 1.5% in early trading. Asian markets ended mixed.
2) Oil Slips Further
Oil prices are continuing their downward trajectory, with US crude futures dipping below $59 per barrel.
The Paris-based International Energy Agency cut its forecast for demand growth in 2015.
Oil prices have fallen by more than 40% since June due to a supply glut.
3) Russian Ruble Hits a New Low
The Russian ruble hit a new record low versus the US dollar Friday despite Thursday's interest rate rise -- the fifth this year. The economy continues to be hit from all sides by falling oil prices, Western sanctions and high inflation.
4) Thursday Market Recap
All the main US indexes closed out Thursday with gains, but falling oil prices put a dent in the market rebound.
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What is it? It checks the level of a composite index based on surveyed consumers.
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? December 12th at 9:55am 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 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.
When? December 12th at 8:30am 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 change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
It's a leading indicator of economic health - production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings.
When? December 12th at 5:00am 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 checks the change in the total amount builders spent on construction projects.
When? December 12th 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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What is it? It checks the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
It's a leading indicator of economic health - production is the dominant driver of the economy and reacts quickly to ups and downs in the business cycle.
When? December 12th at 12:30am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the CNY to rise.
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World stocks and oil prices steadied on Thursday as investors waited to see how much help the ECB's latest funding flood could provide the euro zone and if an expected sharp hike in Russian interest rates could stabilize the ruble.
European shares nudged higher in opening deals and the dollar also halted its abrupt slide of the last few days as investors caught their breath after some sell-offs exacerbated by the year-end drop in trading volumes.
The ECB is offering banks ultra-cheap, four-year loans as part of a package of measures to add around 1 trillion euros to its balance sheet - a goal it has set with a view to pumping money into the economy to save it from deflation.
But a Reuters poll carried out this week points to only around 130 billion euro being taken. After a disappointing first round in September, it could strengthen the case for the more controversial option of sovereign bond buying.
Asian stocks sagged overnight after the decline in oil prices took a heavy toll on energy shares and hit Wall Street hard.
Oil ticked higher in early European trading but remained below $65 per barrel, not far from a five-year low hit in the previous session. In the meantime, gold dropped.
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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) Time for a Bounce as Oil Recovers?
US stock futures are edging up Thursday after markets endured three consecutive days of losses.
Investors have grown increasingly nervous over the past few weeks as they consider how plunging crude oil prices will damage the oil industry and the energy boom that has helped the US recovery.
Oil prices have fallen by roughly 40% since June. US futures are staging a modest recovery Thursday, trading just above $61 per barrel.
2) Russian Rates
Russia's central bank will announce its latest interest rate announcement at 5:30am ET. Many economists say Russia has little choice but to hike interest rates sharply to help steady its free falling currency.
Russia's economy is suffering from plunging oil prices, rising inflation and the impact of Western sanctions imposed over the crisis in Ukraine.
3) Earnings and Economics
Lululemon (LULU) and RadioShack (RSH) will report quarterly earnings before the opening bell. Adobe Systems (ADBE) will report after the close.
The US government will post weekly jobless claims and monthly retail sales, both at 8:30am ET.
4) International Markets Overview
European markets were inching up in early trading, while all major Asian markets ended with losses.
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What is it? It checks 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.
When? December 11th at 8:30am Eastern Time.
Trading Tip: If the number is lower than the forecast, you can expect the USD 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 11th at 8:30am 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 change in the total value of sales at the retail level, excluding automobiles.
Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.
When? December 11th at 8:30am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the USD to rise.
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"Hello admin, Today i happy, i follow your signal free u send the last night eur/usd price up (call) i win."
What is it? Governor Poloz is due to speak at the Economic Club, in New York.
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 11th at 8:00am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the CAD to rise.
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What is it? It checks the total value of money the ECB will create and use to loan to Eurozone banks.
It provides liquidity to banks which usually leads to lower long-term interest rates and stimulates growth.
When? December 11th at 5:15am Eastern Time.
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What is it? It's among the primary tools the SNB Governing Board uses to communicate with investors about monetary policy and the economic outlook.
When? December 11th at 3:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the CHF to rise.
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What is it? It's the primary tool the SNB Governing Board 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? December 11th at 3:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the CHF to rise.
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What is it? It checks the London interest rate for 3-month Swiss franc deposits.
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 11th at 3:30am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the CHF to rise.
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US markets are on track for a modestly lower start. Index futures spent the bulk of the night just below their flat lines, but slipped to lows about an hour ago. The recent downtick took place as markets in Europe retreated to their lows, but for the time being, the key indices there have been able to stay out of the red.
The major Asian bourses ended mixed. Japan's 10-yr yield dipped below the 0.40% threshold for the first time ever after the BSI Manufacturing Index (8.1; expected 13.1) was the latest number to fall short of estimates.
Major European indices have slipped from their highs with Spain's IBEX (-0.1%) dipping into the red. Elsewhere, Bank of England Governor Mark Carney discussed the expected rate path once again, saying rate hikes will be gradual and limited. Mr. Carney also said inflation is likely to dip below 1.0%
Gold climbed today, while Crude oil is lower by 2.2% at $62.45/bbl while copper futures have surrendered 1.0% to $2.899/lb.
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