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? November 4th 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 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? November 4th at 3:00am Eastern Time.

 

 

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

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What is it? It's among the primary tools the RBA Reserve Bank 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 discusses the economic outlook and offers clues on the outcome of future decisions.

When? November 3rd at 10:30pm 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? It checks the interest rate charged on overnight loans between financial intermediaries.

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? November 3rd at 10:30pm Eastern Time.

 

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

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What is it? It checks the difference in value between imported and exported goods and services 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? November 3rd at 7:30pm Eastern Time.

 

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

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US stocks climbed further on Friday, closing at record levels. Markets benefitted from a decision by the Bank of Japan to extend monetary stimulus by another ¥10 billion to ¥80 Billion per year.

Asian markets were mixed today with the Nikkei remaining closed for a holiday, while European markets were lower today after weak data.

Oil is under pressure due to the stronger Dollar and weak Chinese data. China is the second biggest consumer of oil and lower data could lead to lower demand. The price is inching higher today as traders take advantage of the low price.

Gold is trading around its lowest price since 2010. Commodity prices are under pressure after Oil reached such a surprising low and investors are hesitant to trade in such a risky market.

 

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Here are 3 tips for today's trading. This will help you decide where you should invest and what to look for:


1) Nervous Trading

It looks like stocks could start the month on the back foot after October's fireworks. US futures are edging lower and there's a lack of direction in the markets.


2) Europe and Asia

European markets were edging lower in early trading. Asian markets ended with mixed results. 


3) Economics

The ISM Manufacturing Index is set to come out at 10am ET. At the same time, the US government will report monthly construction spending.

 

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Other top stories:

Retail Sales (AUD)

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