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Yesterday, the EUR/USD dropped to a new 9-year low and reached 1.1725. The pair reacted to news that the European Court of Justice stated that the European Central Banks’ Open Market Operations “may be legal” but must meet conditions.

Last year, the German court argued that the bond-buying is illegal and therefore, the main court had to look into it. Since they found it as “possibly legal”, speculation that Mario Draghi will introduce new stimulus next week increased and pushed the pair down. However, later on, disappointing US data was released and erased the previous movement.

On Wednesday, the GBP/USD continued to trade with bullish sentiment and climbed above 1.5260. The increase was caused by disappointing U.S Retail Sales data which showed a 0.9% decrease instead of an expected 0.2% increase. In addition, the Governor of the Bank of England, Mark Carney, spoke before the Treasury Select Committee and stressed the difference between the situation in Europe and in the UK.

Yesterday, Gold peaked at $1,244/ounce but then reversed downwards. The price was boosted by weak US Retail Sales data which disappointed the market. In addition, the stock market dropped, supporting the demand for gold. However, unlike other safe haven assets, Gold is considered to be risky and is predicted to drop further down in 2015.

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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) Swiss Stun Markets

The Swiss central bank removed its exchange rate ceiling of 1.2 Swiss francs to the euro, a cap introduced in 2011 during the Eurozone crisis to limit the flow of cash into the traditional safe-haven economy.

The franc surged against the euro, US dollar and UK pound on the news, despite a simultaneous announcement that key Swiss interest rates were being cut to minus 0.75%.

"This exceptional and temporary measure protected the Swiss economy from serious harm," the central bank said in a statement. "While the Swiss franc is still high, the overvaluation has decreased as a whole since the introduction of the minimum exchange rate. The economy was able to take advantage of this phase to adjust to the new situation."

2) Earnings and Economics

The market mood could swing again based on the latest set of earnings.

On the economic front, the US government will report weekly jobless claims at 8:30am ET. Official data on producer prices in December will also come out at the same time.

3) Bankruptcies

Failing companies may also grab attention Thursday. RadioShack (RSH) is reportedly preparing to file for bankruptcy. The filing could come during the first week of February, according to the Wall Street Journal. RadioShack declined to comment.

Meanwhile, the operating unit of Caesars Entertainment (CZR), the owner of Caesars Palace casinos, has filed for Chapter 11 bankruptcy.

Shares in Caesars have dropped by nearly 20% since the start of this month.

4) India Cuts Rates

The Reserve Bank of India unexpectedly cut key lending rates on Thursday in an effort to boost growth in the Asia's third-largest economy.

The central bank was not scheduled to issue a rate decision, and the move took economists and analysts by surprise. The Mumbai Sensex index shot up by 3%

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What is it? German Bank President, Wedimann, is due to deliver a speech titled "2015 - The Outlook for the New Year," in Berlin.

ECB Governing Council members vote on where to set the Eurozone's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

When? January 15^th at 11:15am Eastern Time.

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

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What is it? It checks the level of a diffusion index based on surveyed manufacturers in Philadelphia.

It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.

When? January 15^th at 10:00am 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 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 15^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 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 15^th at 8:30am 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 checks the London interest rate for 3-month Swiss franc deposits.

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 15^th at 4:30am Eastern Time.

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

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