US stocks experienced their worse drop in 2 months before earnings season. Asian markets also declined as the Dollar traded as low as ¥107.8.
European markets are lower today as focus now turns to the FOMC Meeting Minutes which will be released at 6pm GMT today.
Oil sharply declined to a 2 year low after the IMF decision to cut the global growth forecast. The assumption is that if growth slows, demand for oil will also slow.
Gold gained and climbed above $1,215/ounce as the Chinese market re opened after holidays. Further gains were seen as the stock market and Dollar declined. Traders turned to safe haven assets following the IMF decision but this could be short term.
Trading Tip: If the FOMC Meeting minutes provide new information we should see Gold falling back down.
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