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The FOMC statement was released yesterday and showed optimism regarding the US economy. Members of the committee expressed belief that the economy is improving at a ‘solid’ pace and that the labour market conditions are advancing making the possibility of hiking interest rates during the first half of the year more likely. US markets finished lower.

Asian markets declined across the region. The Nikkei lost 1.06% despite the fact that the Dollar climbed against the Yen due to weaker than expected earnings.

European markets are mixed today.

Oil dropped to a 6 year low following an inventory report from the EIA. The report showed that supplies in the US climbed by 9million barrels over the past week, much above the expected increase of 4.2 million barrels. The stronger Dollar also affects the price so traders should focus on US data including Pending Home Sales later today.

Gold declined and reached a low of 1,264 following the FOMC statement. It is widely expected that interest rates will now be increased in June reducing the appeal of the safe haven asset. In addition, the metal moves inversely to the Dollar which is appreciating on the back of strong data.

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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) Expecting Earnings

Alibaba (BABA, Tech30), Ford (F), Coach (COH) and Time Warner Cable (TWC) will report earnings before the opening bell, as well as oil companies Valero (VLO), Phillips 66 (PSXP) and ConocoPhillips (COP).

Google (GOOGL, Tech30), Amazon (AMZN, Tech30) and Visa (V) will report after the close.

US stock futures are holding steady but Thursday's direction will likely depend on how well those earnings are received.

2) Investors lovin' McDonald's News

Investors are bidding up shares in McDonald's (MCD) ahead of the open after CEO Don Thompson announced his retirement. This comes a week after McDonald's reported awful financial results.

3) Greece Markets Steady

The main stock market index in Greece stabilized, trading up by about 2% after plunging Wednesday.

The index has fallen 12% since the start of the year as investors have grown increasingly worried about Greece's financial health following the election of a new government that wants to renegotiate the terms of its international bailout.

European markets were all edging down in early trading. Asian markets mostly closed with losses.

4) Economic Announcements

The US government will report weekly jobless claims at 8:30am ET.

At 10:00am, new US data on pending home sales will be released from December.

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What is it? It checks the change in the price of finished goods and services sold by producers.

It's a leading indicator of consumer inflation - when producers charge more for goods and services the higher costs are usually passed on to the consumer.

When? January 29^th at 7:30pm 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? It checks the number of individuals who filed for unemployment insurance for the first time during the past week.

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. Unemployment is also a major consideration for those steering the country's monetary policy.

When? January 29^th at 8:30am Eastern Time.

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

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What is it? It checks the change in the price of goods and services purchased by consumers.

Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.

When? January 29^th at all day long.

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

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