US stocks dropped, experiencing their biggest drop in 3 weeks.   Markets were hit by weaker than expected data with Core Durable Goods Orders declining by 0.8%, instead of increasing by the expected 0.6%. The data sparked speculation that the Federal Reserve may postpone their rate hike further and it is now expected in June. Markets were also hit by weak earnings.

Asian markets were mostly higher today. The Nikkei climbed 0.15% reaching a monthly high as the Dollar strengthened against the Yen in anticipation of the upcoming FOMC statement.

European markets are mixed today.

Oil is falling as it is pressured downwards by the stronger Dollar. In addition the API released an inventory report which showed that supplies climbed by almost 13 million barrels in the past week. A further report will be released from the EIA at 3:30pm GMT.

Gold is heading back down as investors become wary ahead of the upcoming FOMC statement. Losses appear limited as it is expected the Fed will be dovish and may postpone hiking rates to later in the year. Nevertheless, traders should watch the report closely as it is likely to spark short term movement in the market.

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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) Big Tech Gets a Boost

Shares in Apple (AAPL, Tech30) are expected to jump at the open after the company posted the biggest profit in corporate history in the last quarter, when it sold 74.5 million iPhones.

Apple's earnings are helping ARM Holdings (ARMH, Tech30) in London, a company that sells chip designs to Apple and other smartphone makers. Shares in ARM were rising by 2% in London.

Yahoo (YHOO, Tech30) shares are also expected to soar at the open after the company said it would spin off its remaining stake in Chinese e-retailer Alibaba (BABA, Tech30). The deal is expected to save shareholders $16 billion in tax, according to Yahoo CEO Marissa Mayer.

2) Greek Stocks and Bonds Plunge

Greek markets plunged again, with banks suffering the most, after the country's new anti-austerity government was reported to have canceled a planned privatization -- one condition of its international bailout. The benchmark Athens index has now fallen nearly 10% already this year.

The yield on Greece 10-year government bonds jumped 60 basis points to more than 10%.

3) More Earnings

Quarterly results are coming in thick and fast.

Boeing (BA), Hess (HES) and Fiat Chrysler (FCAM) are among the main companies reporting earnings before the opening bell.

Facebook (FB, Tech30) will report after the close.

4) Focus on the Fed

At 2:00pm ET, investors around the world will be focusing on the latest announcements from the US Federal Reserve. The Fed is concluding its two-day meeting Wednesday and investors will be parsing through the Fed's new statement to guess when the central bank may be ready to raise interest rates.

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What is it? It checks the difference in value between imported and exported goods 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? January 28^th at 4:45pm Eastern Time.

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

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What is it? It's among the primary tools the RBNZ 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? January 28^th at 3:00pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the NZD to rise.

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What is it? It checks the interest rate at which banks lend balances held at the RBNZ to other banks 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? January 28^th at 3:00pm Eastern Time.

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

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What is it? It checks the interest rate at which depository institutions lend balances held at the Federal Reserve to other depository 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? January 28^th at 2:00pm Eastern Time.

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

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What is it? It's the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.

When? January 28^th at 2:00pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.

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What is it? As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? January 28^th at 1:50pm Eastern Time.

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.

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