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UK consumer prices rise above estimates in September
UK consumer prices rose surged 10.1% in September, above estimates of 10%, and up from 9.9% in the previous reading.
Core prices, excluding energy and food, rose 6.5%, up from 6.3% in the previous reading, and beating estimates of 6.4%.
Gold declines as dollar turns higher anew
Gold prices fell on Tuesday as the dollar rose against a basket of major rivals, pressuring commodities and minerals.
A batch of banking results in the US beat expectations for profits and earnings handily, supported by the Fed's decision to hike interest rate.
Goldman Sachs was a prominent one, and announced forecast-beating quarterly profits and earnings in the third quarter.
The dollar index rose 0.1% to 112.1 as of 16:17 GMT, with a session-high at 112.4, and a low at 111.7.
Gold spot futures fell 0.5% as of 16:18 GMT, or $8.10 to $1,655.9 an ounce.
Wall Street climbs nearly 1.5%
US stock indices rose on Tuesday amid a stream of positive corporate earnings results.
A batch of banking results in the US beat expectations for profits and earnings handily, supported by the Fed's decision to hike interest rate.
Dow Jones rose 1.5%, or 450 points to 30,636, while S&P 500 climbed 1.5%, or 54 points to 3,732, as NASDAQ added 1.5%, or 160 points to 10,852.
Oil slides to two-week lows on economic slowdown concerns
Oil prices declined in European trade to two-week lows, resuming the losses on concerns about a global recession and its impact on fuel demand.
Later today, initial data on US crude stocks will be released, expected to show an inventory buildup for the second week in a row.
Global Prices
US crude fell 1.25% to $84.58 a barrel, the lowest since October 4, while Brent shed 1.3% to $90.74, the lowest in two weeks.
US crude rose 0.1% on Monday, while Brent added 0.2% as the greenback declined against major rivals.
Recession
As US inflation remains doggedly high, while European growth is expected to tumble to just half a percent in several EU countries.
Analysts continue to warn from a possible impending global recession, due to the ongoing Ukrainian crisis, while global central banks race to tighten monetary policies and increase interest rates by even steeper amounts to control double digit inflation rates.
Global central banks on the other hand continue their aggressive policy tightening and rate hikes in order to control runaway inflation which almost hit double digits in major economies.
Such developments threaten even more aggressive policy tightening and global recession and a tumble in fuel demand.