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New York gold futures fell 1.00% on the day, currently trading at $4,452.20 per ounce.On September 1st, Danske Bank analysts stated in a report that the market will be focusing on the upcoming Federal Reserve policy meetings to determine whether Fed Chairman Kevin Warsh will take concrete action to address his concerns about inflation. Danske Bank analysts believe that, based on Warshs assessment of the current economic situation, inflation remains above target, financial conditions have not tightened significantly, the job market remains stable, and overall economic growth is robust, although performance across sectors is uneven. Against this backdrop, Danske Bank analysts still expect the Fed to raise interest rates in December and March of next year, but believe the risks of such hikes are tilting towards an earlier date.Italys final second-quarter GDP annualized rate was 1%, in line with expectations and unchanged from the previous reading of 1.00%.Italys final second-quarter GDP growth rate was 0.2%, in line with expectations and down from 0.20% previously.September 1 (Dow Jones Newswires) – Daiwa Securities economist Kento Minami stated that Japans second-quarter GDP growth rate may be revised upwards to 0.4% quarter-on-quarter, or 1.6% annualized, due to stronger-than-expected corporate capital expenditure data from the Ministry of Finance. The initial estimate for Japans second-quarter GDP was 0.3% quarter-on-quarter and 1.1% annualized. The revised GDP data will be released on September 8. Minami stated that this data "likely confirms that although domestic demand in Japan has cooled somewhat compared to the previous quarter, the overall economic growth trajectory remains largely unchanged."

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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