Gold slides, GBP crash continues, oil data is due later on. 

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:


1. Gold slips

 

Gold prices are steadier Wednesday, after sliding more than 3% Tuesday in the biggest 1-day drop since 2013.

"Hawkish speeches from central bankers and a strong U.S. dollar saw investors cash out on a strong yearly performance from the precious metal," said Naeem Aslam, chief market analyst at ThinkMarkets.

Analysts said markets appeared to be anticipating more good news to come on the U.S. economy, which would increase the chances of a U.S. interest rate rise in December. That would make gold less attractive.

"Higher yields and a stronger dollar amid recent upbeat US data had gold trading on the back foot," said Joni Teves, a strategist at UBS.


2. GBP keeps losing ground

The pound continues to fall on Wednesday, dropping below $1.27, to yet another new 31-year low.

Investors are growing increasingly anxious about the potential loss of access to Europe's markets when the U.K. leaves the European Union in 2019. Banks, automakers and other businesses have said they could cancel investments and move operations out of the U.K.


3. Stock market movers

The slide in gold is hurting miners. Fresnillo and Rangold Resources are among the biggest losers in early trading in London.

Apple is up 1.5% in premarket trading, unfazed by the new Pixel line of phones announced by its rival Google on Tuesday.

Micron Technology is 5% down premarket, after the chip maker announced a net loss of $170 million in its fiscal fourth quarter. That compares to a net income of $471 million for the same period last year.

Urban Outfitters (URBN) shed more than 2% during extended trading hours.


4. Economics and market review

Monsanto and Corona beer maker Constellation Brands will report ahead of the open. After the close, KFC and Taco Bell's parent company - Yum Brands - will put out its quarterly update.

The Institute for Supply Management will update its U.S. services index at 14:00GMT. Last month's reading was a big disappointment, dropping from to 51.4 from 55.5 in July. Still, the sector has been expanding for 79 months.

The U.S. Energy Information Administration is reporting weekly crude oil inventory data at 14:30GMT U.S. crude futures are up 1.4% at $49.40 a barrel.

U.S. stock futures are flat.

European markets are lower in early trading, with the main European indexes losing less than 1%. Asian markets ended the session mixed, with Japan's Nikkei and Hong Kong's Hang Seng up, and markets in India down.

The Dow Jones industrial average and the S&P 500 each shed 0.5% on Tuesday, and the Nasdaq dipped 0.2%.

Later this week:

Thursday - Weekly U.S. jobless claims

Friday - September U.S. NFP jobs report