Here's a super-quick guide to what traders are talking about right now (SPY, DJI, IXIC, IWIM)

Via Dave Lutz at JonesTrading, here's a quick guide to what traders are talking about right now:Good Morning! Spoos hold near record levels as we await the ECB (7:45, Draghi Presser at 8:30No change expected, good chance we get a downgrade to the growth and inflation outlook and extension of Bond Buying). EU Markets are trending cautious, with the DAX down 20bp as Staples and Tech falling, while Energy is leading, and the Italian Banks are jumping, helping their market pop 1%. In London, the FTSE up 40bp near 13month highs as Miners and Exporters rally. Volumes are pacing decent, with most markets across the continent trading 10-20% heavier than Trend. In Asia, Nikkei lost 30bp as the Yen ripped higher - Aussie lost 70bp as banks fell - China gained 15bp as Trade data encouraged buying - India closed just off all-time highs, while Macau +4% following the unveiling of their five-year plan.Treasury Yields are flat, while that $ is still reeling from Tuesdays ISM print. The Euro is jumping towards 1.13 despite German growth forecasts lowered, while that Pound just off 2month highs and the Yen drifts sideways. Commodity Currencies are rallying against the Greenback as well, with Aussie $ jumping. Ore traded up small in China, but most Industrial metals are under pressure with Copper off 40bp. Gold is rallying small on the falling $, but eyes are on Energy where Massive draws from API and Trade data from China has WTI trading up 1.5% ahead of DOE today as Gasoline jumps 2%. Natty gains 1.2% as a heat wave approaches the Northeast, while Softs are showing a small bounce.Ahead of us today, we get the ECB Rate Decision at 7:45, followed by the Draghi presser at 8:30, right when Weekly Jobless Claims hit. Natty gas Inventories are released at 10:30, followed by the DOE data for Crude at 11 (API showed a Overall DRAW of 12.08MStreet was looking for a BUILD of 1.01M). We get US Consumer Credit at 3pm.SEE ALSO:FED: The economy is still progressing at a 'modest' paceJoin the conversation about this storyNOW WATCH: Paul Krugman weighs in on the Apple tax debate
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