fbpx
  • Market Insights  >  Weekly Outlook

24 October 2022,07:11

Weekly Outlook

Liz Truss Resigns from Office

24 October 2022, 07:11

Share on:
FacebookLinkedInTwitterShare
Share on:
FacebookLinkedInTwitterShare

UK Prime Minister Liz Truss resigned last week, making her the UK’s shortest-serving PM at just 44 days in office. Truss’ term has been plagued by criticism for her mini budget program, which included the biggest tax cuts since 1972, but would be largely funded  by a massive expansion in borrowing. The markets are now betting on MP Rishi Sunak, who has a background in finance, to be the next PM of the UK. Previously ousted PM Boris Johnson was also in the running, but has since quit the race. 

Joe Biden Awards $2.8 billion for EV Battery Manufacturing

US President Joe Biden has announced that his administration will be awarding US$2.8 billion in grants for US manufacturing of electronic vehicle batteries, as well as the extraction and processing of mineral battery components like lithium, graphie, and nickel. These will be funded as part of the White House’s $1 trillion bipartisan infrastructure. Ostensibly, the grant will turn demand away from fossil fuels, but more pointedly, decrease reliance on China for the minerals required for EV batteries.

Japan Reportedly Intervened in the Yen

As told to Reuters by sources close to the matter, Japan has intervened in the foreign exchange market for the second time in a month, buying yen to support the currency after it hit near a 32-year-low as the country continues with its ultra-easy monetary policy. The Bank of Japan has continued to keep interest rates low even as major governments around the rest of the world hike rates to combat rampaging worldwide inflation.

Start trading with an edge today

Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.

  • Start trading with deposits as low as $50 on our standard accounts.
  • Get access to 24/7 support.
  • Access hundreds of instruments, free educational tools, and some of the best promotions around.
Join Now

Latest Posts

Szybkie i łatwe otwieranie konta

Utwórz Konto na Żywo
  • 1

    Zarejestruj się

    Zarejestruj się na Live Account w PU Prime za pomocą naszego procesu bez żadnych kłopotów.

  • 2

    Fundusz

    Bez wysiłku doładuj swoje konto za pomocą szerokiego zakresu kanałów i akceptowanych walut.

  • 3

    Rozpocznij Trading

    Uzyskaj dostęp do setek instrumentów w ramach wiodących na rynku warunków handlu

Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.

Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.

By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.

Thank You for Your Acknowledgement!

Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.

Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.

Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.

Thank You for Your Acknowledgement!