Glossary - U

An underlying asset is a specified interest rate, security price, commodity price, foreign exchange rate, index of prices or rates, or other variable. An underlying may be a price or rate of an asset or liability but is not the asset or liability itself.
Unemployment occurs when people are without jobs. The unemployment rate is a measure of the unemployed and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labour force.
A price trend characterized by a series of higher highs and higher lows.