PROVEN RESULTS

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? May 11^th 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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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1. Rate cut in China

China's central bank cut interest rates over the weekend and stock markets responded by catapulting higher.

The China Shenzhen index surged by 4.5% and the Shanghai Composite index jumped by 3% on Monday.

This is the third rate cut in the last six months.

2. Earnings

Dish Network (DISH), Mobileye (MBLY) and Sotheby's (BID) are reporting ahead of the open.

3. Global economics

The Bank of England releases its rate decision Monday. Monetary policy in the U.K. has been very loose for a long time, but economists expect the central bank will eventually begin tightening the screws.

The British economy is improving so "it will be difficult to think of a situation why the monetary policy should remain at current level[s]," said Naeem Aslam, chief market analyst at AvaTrade.

Eurozone finance ministers are meeting Monday to decide whether to help Greece by giving the indebted nation more loans. Investors continue to worry that Greece could soon default on its debt. The country has to make a €750 million ($838 million) debt repayment to the International Monetary Fund on Tuesday.

4. Stock market overview

U.S. stock futures are moving sideways, indicating it could be a quiet start to the day.

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During the early trading session, Asian stocks traded higher as major governments paused the paused the bond sell off. Over the past week countries, including, UK, Germany and the U.S. turned their focus to return of inflation and thus sparking a rise in bond yields, as they struggled with debt. The Nikkei share average was up 0.45%, closing at 19,379 points. Furthermore, Investors turned to the China stock market following the release of negative data. The Trade Balance for China showed a lower than expected reading of 34.13B. The Hang Seng rose 1.05% and the Shanghai Composite closed 0.73% higher.

During the European session, the Euro traded lower against the stronger Dollar as currency traders looked ahead to the Nonfarm Payrolls and following the release of weak data from Germany. The German Industrial Production and the trade balance both showed worse than expected figures for the month of March. The British pound rallied against the Dollar and reached its highest level in nearly two and a half months following the UK elections. Conservative party leader, Davis Cameron, was re-elected as Prime Minister sending UK markets upward, the FTSE 100 Index also jumped more than 2% as traders showed their relief over the victory.

During early U.S. trade, the American Bureau of Labour Statistics released the highly anticipated Nonfarm Payrolls. The economic report showed that 223,000 more people were employed during the previous month, slightly lower than the expected figure of 224,000. The Dollar briefly weakened against a basket of major currencies, but then showed little change as traders digested the actual figure. The Dollar remains supported as the data was close to analysts’ expectations including the unemployment rate figure of 5.4%.

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Other Top Stories:

Technical Analysis Lesson 1 - Introduction

Technical Analysis Lesson 2 - The Basic Assumptions

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