{"id":36326,"date":"2022-10-14T08:25:00","date_gmt":"2022-10-14T07:25:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=36326"},"modified":"2022-10-14T12:10:38","modified_gmt":"2022-10-14T11:10:38","slug":"market-wrap-market-u-turn-continues","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/market-wrap-market-u-turn-continues\/","title":{"rendered":"Market Wrap &#8211; Market U-turn continues"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"36326\" class=\"elementor elementor-36326\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-defbce9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"defbce9\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-87cce4b\" data-id=\"87cce4b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-963daf9 elementor-widget elementor-widget-text-editor\" data-id=\"963daf9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t<p>Financial markets globally are on the rise once again today despite the United States CPI inflation report coming in stronger than expected on Thursday.<\/p><p>So far, we are seeing big moves in the foreign exchange market, European, Asian, and United States stock markets. The precious metals market is strangely muted.<\/p><p>No reason has been given why the move is happening. It could be due to the mid-terms. Trading could be taking profits ahead of the results of the mid-term elections.<\/p><p>Big moves are being seeing in the United States stock markets, with futures for the <a href=\"https:\/\/bit.ly\/3ROlChC\" target=\"_blank\" rel=\"noopener\">DJIA<\/a>, <a href=\"https:\/\/bit.ly\/3QO16fN\" target=\"_blank\" rel=\"noopener\">Nasdaq<\/a>, and <a href=\"https:\/\/bit.ly\/3xqcdEK\" target=\"_blank\" rel=\"noopener\">S&amp;P500<\/a> in the green. Especially the DJIA, as it trades up by nearly 2 percent already.<\/p><p>Huge moves are also happening in the foreign exchange, with the British pound leading the way. The <a href=\"http:\/\/bit.ly\/2Zn4HaM\" target=\"_blank\" rel=\"noopener\">GBPUSD<\/a> pair has recovered by nearly 300 points already since the lows of the weeks as sterling knocks on the door of 1.1300.<\/p><p>UK Chancellor Kwarteng departed early from Washington meetings to return to the UK. Its widely expected he&#8217;ll be reversing his disastrous tax cut policy that led to the melt-down in gilts and GBP and the subsequent rescue by the Bank of England.<\/p><p>This is the primary reason why sterling is rallying. A full reversal of the budget would be seen as a huge positive for the British economy and currency.<\/p><p>The <a href=\"http:\/\/bit.ly\/2OJjKKR\" target=\"_blank\" rel=\"noopener\">USDJPY<\/a> pair has started to back away from the yearly highs due to the reversal in the buck. We had also commented from Japan&#8217;s finance minister Suzuki. These are pretty weak intervention remarks.<\/p><p>The data focus was on inflation results from today China. The CPI for September rose to its highest since April of 2020. The Chinese Government also decided to buy property today amidst the national housing crisis.<\/p><p>People&#8217;s Bank of China Governor Yi Gang spoke during the session, saying there is more policy support from the Bank ahead.<\/p><p>The Chinese President Xi Jinping is poised to win a third term at the event. The seven members of the next Politburo Standing Committee will also be named.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Financial markets globally are on the rise once again today despite the United States CPI inflation report coming in stronger than expected on Thursday. So far, we are seeing big moves in the foreign exchange market, European, Asian, and United States stock markets. The precious metals market is strangely muted. No reason has been given [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":36328,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[421,257,20,27,202,279,22],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v17.6 (Yoast SEO v20.11) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market Wrap - Market U-turn continues - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/market-wrap-market-u-turn-continues\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market Wrap - Market U-turn continues Market Wrap - Market U-turn continues\" \/>\n<meta property=\"og:description\" content=\"Financial markets globally are on the rise once again today despite the United States CPI inflation report coming in stronger than expected on Thursday.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/market-wrap-market-u-turn-continues\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-14T07:25:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-10-14T11:10:38+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2022\/10\/GettyImages-1308463545.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"416\" \/>\n\t<meta property=\"og:image:height\" content=\"379\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Market Wrap - Market U-turn continues Market Wrap - Market U-turn continues\" \/>\n<meta name=\"twitter:description\" content=\"Financial markets globally are on the rise once again today despite the United States CPI inflation report coming in stronger than expected on Thursday.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-market-u-turn-continues\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/market-wrap-market-u-turn-continues\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Market Wrap &#8211; 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