Market Update

After UK PM Liz Truss resigned on Thursday, she became the shortest-serving prime minister in history. Attention is now set on the Tory leadership race.The election at the Conservative Party could take place Friday, Saturday and Sunday, according to UK newspapers. In case of having an outright winner, the new …

WTI futures are trading higher for the second consecutive day on Thursday, to depart the last two weeks’ downtrend. WTI crude has extended its recovery from Tuesday’s lows at $82.15 to session highs at $87.10 before retreating around $86.00 zone. The American crude is trading at $84.47 per barrel at …

The British Pound rallied on Thursday and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed.At the time of writing the GBP/USD pair is trading at 1.129 …

The recently-elected UK Prime Minister Liz Truss makes a statement this Thursday saying she will resign. Truss will remain in place until a new leader is chosen and the leadership election will be completed in the next week. Given that the markets have been anticipating the UK PM’s resignation, the …

There were 214,000 initial jobless claims in the week ending October 14, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print follows the previous week’s downward revised reading of 226,000 and beats market expectations for a rise to 230,000. Further details of the …

Liz Truss is to issue a statement resigning as prime minister after just 45 days, following the near-complete evaporation of her political authority, a process begun by last month’s disastrous mini-budget. “It’s over,” a source said. Truss, who would become the shortest-serving prime minister in UK history, has been under …

Gold prices rose on Thursday due to a slight decline in the dollar, although higher Treasury yields and the prospect of further interest rate hikes by the Federal Reserve capped gains. By 0909 GMT, spot gold rose 0.2 percent to $1,631.54 an ounce. US gold futures rose 0.1 percent to …

European shares fell on Thursday, as investors worried about persistent inflation and tightened central bank measures, while slumping profits for chip maker B.E. Semiconductor and telecommunications company Nokia raised fears of an economic slowdown. Nokia shares fell 4.1 percent after the Finnish telecom equipment company’s quarterly operating profit fell short …

The Japanese yen fell below 150 against the US dollar, levels since August 1990. It is scheduled to start scheduled for scheduled to start from two days. Policymakers have ruled out adopting a new policy to question the return of the policy. And on Thursday, Japan’s 10-year government debt yield …

Gold prices hovered at a three-week low on Thursday, pressured by the rise in the dollar and the yield on Treasury bonds, amid fears that the Federal Reserve will continue to raise interest rates by a significant amount. And by 0049 GMT, gold fell in spot transactions 0.1 percent to …