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What is it? Goods trade makes up about 75% of total trade in US and provides early insight into Trade Balance data. A positive number indicates that more goods were exported than imported. Source first released in Jul 2015. 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? 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? While this is q/q data, it's reported in an annualized format (quarterly change x4). There are 3 versions of GDP released a month apart – Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact. It's the broadest measure of economic activity and the primary gauge of the economy's health.

When? 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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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

Global investors are shifting their focus from Chinese markets to the Federal Reserve today. 

1) Chinese markets gain

The Shanghai Composite index and Shenzhen index both regained some lost ground Wednesday, closing with gains of 3.4% and 4.1% respectively.

Markets are stabilizing after intervention by officials aimed at halting a crash that saw the Shanghai Composite drop 8.5% Monday -- its biggest percentage fall in a day since 2007.

Chinese equities have been on a wild ride since the start of the year. 

2) Focus on the Fed

Now that Chinese markets are closed for the day, investor attention is shifting to the Federal Reserve. The Federal Open Market Committee issues its decision on interest rates at 2 p.m. ET.

"Markets expect the central bank to withhold an interest rate hike this time around, putting the focus on the statement accompanying the announcement for further guidance," said Ilya Spivak, a currency strategist at DailyFX.

Many expect a rate hike could come later this year as the U.S. economy improves. 

3) Stock market overview

U.S. stock futures are edging higher ahead of the open.

European markets are mixed in early trading.

Across Asia, market moves were relatively muted, except for the gains in China.

Looking back to Tuesday's trading, the Dow Jones industrial average rose 1.1%, the S&P 500 climbed 1.2% and the NASDAQ jumped 1%.

4) Movers and shakers

Akamai Technologies (AKAM), a cloud services company, saw its stock drop about 10% in extended trading following weak earnings.

Shares in insurance company Assurant (AIZ) are up about 10% in extended trading after releasing better-than-expected quarterly results.

And shares in Gilead Sciences (GILD) are up 4% premarket after its earnings beat expectations.

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What is it? It's an excellent gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect - for example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various services are purchased by the builder.

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? 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? At 8:30pm Eastern Time.

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

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What is it? The rate decision is often priced in the market so it tends to be overshadowed by the FOMC Statement which is focused on the future. 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. FOMC members vote on where to set the target rate. The individual votes are published in the FOMC statement.

When? At 2:00pm 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 tool the FOMC 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? At 2:00pm Eastern Time.

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

Ask us about our FREE financial advice program: 

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