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Gold prices plunged on June 25, extending losses from the previous trading day; a stronger dollar and growing market expectations of a potential Federal Reserve rate hike later this year dampened investor sentiment. Gold futures in New York fell 3.4% to settle at $3,990.30 an ounce, the lowest closing price since November of last year. Other precious metals also saw declines. The dollar strengthened against a basket of currencies today, making dollar-denominated commodities more expensive for overseas buyers.June 25th - As of 2:30 PM closing, the main Shanghai gold futures contract fell 2.45% to 875 yuan/gram, the main Shanghai silver futures contract fell 6.31% to 13,956 yuan/kilogram, and the main SC crude oil futures contract fell 3.78% to 471 yuan/barrel.U.S. Department of Transportation: Domestic airfares in the United States rose 4.7% in the first three months of 2026.Google (GOOG.O) shares dipped briefly after reports surfaced that two more of its AI employees may be leaving for Anthropic.June 25 – European Central Bank (ECB) official Zigman stated that the ECBs primary task is controlling inflation; with falling oil prices, this task is becoming relatively easier. Zigman delivered his first public speech since becoming governor of the Central Bank of Croatia this month. He noted that the ECB demonstrated its resolve by raising borrowing costs, despite concerns that this move would further hamper the regions already struggling economy. "We must focus on price stability," Zigman said. "Geopolitical developments related to the situation in the Strait of Hormuz have led to a drop in oil prices. This will undoubtedly have a positive impact on inflation."

Two Trades to Watch: DAX, GBP/USD

Jimmy Khan

May 07, 2022 10:43


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The DAX is falling as industrial output declines.


After a slaughter on Wall Street that saw the Nasdaq finsh 5% down, European equities have begun in the red, extending losses from the previous day.


Fears of inflation, stagflation, and recession are weighing on the market as we approach the weekend. The DAX is expected to shed 1.4 percent this week, marking the fifth consecutive week of losses.


In March, German industrial output decreased -3.9 percent on a month-over-month basis, down from 0.2 percent in February and considerably below the -1 percent drop forecast. The negative report comes on the heels of a sharp drop in German manufacturing orders in March. The data represents the economic effect of the Russian conflict on Germany and the Eurozone as a whole.


Germany does not have any additional statistics due today. Sentiment and the US NFP announcement will affect European indexes.