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U.S. travel stocks fell as tensions escalated between the U.S. and Iran and oil prices surged. United Airlines fell 3.5%, Southwest Airlines fell 2.1%, Carnival Cruise Line fell 3.1%, Royal Caribbean Cruise Line fell 1.1%, Norwegian Cruise Line fell 1.9%, and Delta Air Lines fell 2.7%.US President Trump: (Regarding Iran) There may be a large-scale strike in the future.US President Trump: Witkov can negotiate with Iran, but I dont see that possibility at the moment.The SC crude oil futures contract rose more than 5%, currently trading at 478.8 yuan per barrel.July 8th - A World Gold Council report shows that North American gold ETFs saw outflows of $5.5 billion in June, bringing the regions net outflows for the first half of the year to $7.7 billion, marking the weakest first-half performance since 2013. European gold ETFs saw outflows of $818 million in June, reducing total inflows for the first half to $3.2 billion. The significant pullback in gold prices that month was a key driver of investors reducing their gold ETF holdings. Asia saw outflows of $2.3 billion in June, the largest monthly outflow on record. Despite this, the region still recorded its strongest first-half performance ever, leading the world with a net inflow of $12 billion. Looking ahead, regional gold ETF flows are expected to stabilize. Our macro baseline scenario in our "Mid-2026 Gold Outlook" indicates relatively stable performance for gold in the second half of the year, with other scenarios potentially brewing breakout catalysts. Meanwhile, geopolitical, economic growth, and financial market uncertainties persist. This backdrop is likely to continue supporting investor demand for portfolio protection and maintaining interest in gold ETFs as a strategic safe-haven asset.

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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