#Marketnews
Welcome to Thursday, dear friends! Let’s consider today's most important market updates, while heading towards the NFP Friday.
UK’s Metro Bank stocks were suspended from trading twice early Thursday after plunging more than 29%. The downfall happened after the news that the bank was trying to raise 600 million pounds in debt and equity.
The US House Speaker Kevin McCarthy was removed from his position after disagreements within his party over a compromise with Democrats made to avoid the government shutdown. This is the first time in US history a speaker has been ousted. Due to the soon deadlines on avoiding a government shutdown, Congress is now facing a crisis.
The US Treasuries have cooled, as well as the USD. US500 and Nasdaq inch lower after yesterday’s strength.
Oil prices lost more than 5% on Wednesday. The prospects of more supplies and technical selling of algorithmic traders resulted in the most significant one-day drop since September 2022. Now, oil traders focus on the OPEC+ review of the market. For more XBRUSD analysis
click here.
According to Ray Dalio, US-China relations are “on the brink of red lines” because the current US export controls are similar to the petroleum ban it imposed against Japan before the outbreak of war in 1941.
