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On May 11, French President Emmanuel Macron, who was visiting Kenya on May 10, stated that France had "never considered" any "deployment" in the Strait of Hormuz. In response to plans by France and the UK to send additional warships to the Red Sea and the waters surrounding the Strait of Hormuz, Iranian Deputy Foreign Minister Gharibabadi posted on social media on May 10 that any external military deployment under the guise of "protecting shipping" would "no less exacerbate the crisis and militarize this crucial waterway." Only Iran can guarantee the security of the strait and will not allow any country to interfere.On May 11, following reports that Iran had responded to the US ceasefire proposal, Sultan Barakat, a professor at Hamad bin Khalifa University in Qatar, warned against expecting a swift breakthrough in negotiations. Barakat stated that a comprehensive peace agreement is still a long way off, and this should not be considered the end of the US-Iran conflict for an extended period. He pointed out that Iran has accumulated considerable resentment during the war; the deaths of its supreme leader and his family, numerous senior officials, and the immense destruction caused by the war have made it difficult for the Iranian people to trust the United States. However, both sides hope to extend the ceasefire as long as possible and use it as a starting point for gradually resolving various issues through negotiations. Barakat noted that Iran initially hoped for a comprehensive peace agreement but has now shifted to a phased approach. He speculated that Iran might want to restore navigation through the Strait of Hormuz and propose a joint oversight plan with the US.On May 11, according to the Iranian Students News Agency, the head of the Iraqi military media center responded to foreign media reports about the existence of Israeli bases in Iraq, declaring that the news was baseless and untrue.The Kingdom of Bahrain condemned Irans continued blatant attacks on the United Arab Emirates.US Ambassador to the United Nations: Iran cannot hold the world economy hostage.

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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