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According to Iranian state media, a tanker truck explosion in western Iran has killed 10 people.On September 6, the Israel Defense Forces (IDF) issued a statement saying that it launched an attack on Hezbollah personnel and related infrastructure in southern Lebanon on the evening of September 4 in response to a drone attack by Hezbollah earlier that day.Domestic News: 1. One Chinese citizen trapped in the Nepal mudslide disaster has been rescued. 2. Xiaomi releases its structured data big data model, Xiaomi-TabLDM. 3. Chinas logistics demand continued to expand in August, with the business climate further improving. 4. Two departments raised the national natural disaster relief emergency response level to Level III for Fujian. 5. The National Development and Reform Commission urgently allocated 20 million yuan to support emergency recovery efforts after the rainstorm and flood disaster in Jiangxi. International News: 1. Frances national gold reserves have been entirely consolidated domestically. 2. US media: US Republicans confidence in the economy has plummeted. 3. South Koreas exports have reached a record $709.4 billion so far in 2026. 4. A temporary ceasefire has been implemented around the Zaporizhia nuclear power plant to repair external power lines. 5. Sources: The White House has vetted candidates to replace the US Deputy Secretary of Defense. 6. US representatives arrived in Moscow for negotiations; both Putin and Zelensky stated that attacks on the two capitals would be suspended for the next three days. 7. Middle East Situation—① According to Iranian media Fars News: An explosion was heard near Kharg Island, Iran; the specific cause is still unclear. ② According to Irans SNN news agency: An Iranian oil tanker near Kharg Island was attacked by a missile; there are no reports of casualties so far. ③ US Central Command: The US military sank three Iranian Revolutionary Guard oil tankers.The U.S. National Hurricane Center: Hurricane Karina is expected to weaken rapidly early next week.Ukrainian President Zelensky: From the start of the call, we are prepared to abide by the agreement to cease airstrikes on the cities involved in the negotiations. From now until the end of Saturday, and on Sunday and Monday, Ukraine is prepared to cease airstrikes on Moscow, and we also hope that Russia will take the same measures against Kyiv.

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.

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