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US House Speaker Johnson: The housing bill will be submitted to President Trump on Monday.June 28 – The U.S. Ambassador to the United Nations stated that our actions will continue as needed to destroy Iranian infrastructure used to control the Strait of Hormuz. If Iran believes Trump will stand idly by while he attacks shipping and our bases, it is mistaken. Iran must either choose to be a responsible nation or continue down a path of destruction.On June 28, local time, Russian President Vladimir Putin stated at the United Russia party congress that Russia is currently at a critical juncture. The West cannot defeat Russia on the battlefield and therefore attempts to destabilize Russias domestic situation will ultimately fail. Russia will firmly defend its fundamental interests. Putin stated that Russia has adjusted some development goals according to the actual situation, but all strategic plans will be fully realized. The security of the country and its citizens, as well as the inviolability of Russias borders, will be guaranteed. Putin stated that the State Duma (lower house of parliament) elections will be held strictly in accordance with the law within the established timeframe. He will instruct relevant departments to take measures to ensure the safe conduct of the elections and prevent attempts at external manipulation.U.S. Homeland Security Secretary Mullin: Immigrants with temporary protected status should seek permanent status or return to their country of origin.Russian President Vladimir Putin: Special operations forces are Russia’s true elite force.

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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