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February 25th - On the evening of the 24th local time, Iranian Foreign Minister Araqchi stated that, based on the consensus reached in the previous round of negotiations, Iran will resume talks with the United States in Geneva, determined to reach a fair and reasonable agreement as soon as possible. Irans basic position and beliefs are very clear: it will not seek to develop nuclear weapons under any circumstances, and the Iranian people will never relinquish their right to the peaceful use of nuclear technology. He pointed out that there is now a historic opportunity to reach an unprecedented agreement that addresses common concerns and safeguards common interests. An agreement is imminent, but the prerequisite is that diplomatic means must be prioritized. Iran has proven that it will spare no effort to defend its sovereignty. Iran will return to the negotiating table with the same courage, striving to peacefully resolve all differences.Market news: A massive explosion occurred in Kyiv, the capital of Ukraine.February 25th - As of 2:30 PM closing, the Shanghai Gold futures contract fell 0.30%, the Shanghai Silver futures contract rose 0.71%, and the SC crude oil futures contract fell 0.90%.February 25th - As of 2:30 PM closing, the Shanghai Gold futures contract closed down 0.30% at 1148 yuan/gram, the Shanghai Silver futures contract closed up 0.71% at 22179 yuan/kilogram, and the SC crude oil futures contract closed down 0.90% at 486 yuan/barrel.Swiss National Bank President: The Swiss National Bank is prepared to intervene in the foreign exchange market if necessary.

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.