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What is it? 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? 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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12

Aug

Successful trading depends on selecting the right strategy.

1. Google (NASDAQ:GOOGL) Inc's overhaul of its operating structure is an acknowledgement of the lack of transparency surrounding its disparate businesses and projects, analysts said, but it remains to be seen how much more the company will actually disclose.

2. Gold prices rallied to a three-week high on Tuesday before paring some of those gains as investors assessed the implications of China's move to devalue its currency by the most in two decades.

3. U.S. stocks fell in early trading on Tuesday in a broad-based retreat as China's surprise devaluation of the yuan pushed the dollar higher and pressured commodity-related shares.

4. Crude oil futures tumbled on Tuesday, after the Organization of the Petroleum Exporting Countries said it pumped the most crude in more than three years last month, adding to concerns over a glut in global supplies.

5. The euro rose to one-and-a-half week highs against the dollar on Tuesday after an unexpected devaluation of the yuan by China’s central bank prompted investors to unwind euro-funded positions on the Chinese currency.

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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:

Get ready! It's going to be an exciting day for investors.

1) China's currency moves

The Chinese yuan dropped sharply against the U.S. dollar overnight after China's central bank announced a surprise policy change.

The central bank said it decided to allow market forces greater control over the yuan, and announced a major change in how the currency's daily "fix" or "midpoint" will be calculated.

The sudden devaluation is the largest in two decades, and comes amid a period of slower economic growth and increased stock market volatility in China. A devalued currency will give a boost to Chinese exporters and lend support to the wider economy. 

2) Google shares set to surge

Google (GOOGL, Tech30) stock is rallying about 6% premarket after the tech giant announced a massive restructuring plan.

Google is going to have a new parent company -- called Alphabet -- that will separate its Internet based business from its research undertakings. The company is also making some management changes.

Both the voting-class GOOGL (GOOG) shares and other GOOG (GOOSY) shares will switch automatically to Alphabet stock when the restructure rolls out later this year. The ticker symbols will remain the same. 

3) Greek bailout 3.0

Greece and its eurozone partners are poised to finalize a third bailout deal worth about 86 billion euros ($95 billion).

Negotiators had been trying to iron out some final details over the last few days. A spokesperson for the Greek Finance Ministry told CNN that negotiations have wrapped up.

The bailout is intended to help Greece pay its debts and reform its economy after years of overspending and financial mismanagement. Greece has already received two previous bailouts worth 233 billion euros ($257 billion).

4) Stock market overview

European markets are mostly declining in early trading, though Greek stocks rose 1.5% as the country moved closer to securing a new bailout.

Shares in British fashion house Burberry (BBRYF)sank nearly 3% as investors worry that a weaker Chinese currency will hurt sales in this key market.

Asian markets broadly finished the day in the red.

U.S. stock futures are pointing down. But the Nasdaq is bucking the trend and holding steady ahead of the open, supported by Google's premarket jump.

It follows a positive session for U.S. stocks Monday. The Dow Jones industrial average, S&P 500 and Nasdaq all gained more than 1%, after many days of losses.

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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 5:00 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 economic health - investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity.

When? At 5:00 Eastern Time.

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

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1) Wall Street opened higher on Monday, with the Dow looking to break a seven-day losing streak, after Warren Buffett's Berkshire Hathaway's $37.2 billion to buy Precision Castparts showed the M&A boom was alive and well. Adding to the positive sentiment, poor data out of China boosted hopes for additional stimulus from Beijing. Greek banks could get a first capital injection soon after a bailout deal is agreed, and before the ECB can conduct stress tests, a euro zone official told Reuters. (According to Reuters)

2) The euro was almost unchanged against the broadly stronger dollar in quiet trade on Monday, as expectations for higher U.S. interest rates continued to underpin demand for the greenback.

EUR/USD was last at 1.0964, little changed for the day. (According to Investing.com)

3) U.S. natural gas prices edged higher on Monday, as extreme heat spread across the southern half of the U.S., boosting demand expectations for the fuel.

Natural gas for delivery in September on the New York Mercantile Exchange jumped 4.3 cents, or 1.52%, to trade at $2.841 per million British thermal units during U.S. morning hours. (According to Investing.com)

4) ATHENS - Greece and international creditors sought to put final touches on a multi-billion euro bailout accord on Monday to keep the country financially afloat and meet an important debt repayment to the European Central Bank within days.

Greek ministers and representatives of European institutions and the International Monetary Fund resumed talks on Monday morning after a marathon session that ended in the pre-dawn hours. (According to Reuters).

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