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According to Al Arabiya satellite television, Pakistans Interior Minister will travel to Tehran to meet with Iranian officials.Conflict Status: 1. Ukraine claims Russian military attacks on civilian boats and buses resulted in 1 death and 9 injuries. 2. The Ukrainian military claims to have attacked railway bridges in Russian-controlled Crimea. 3. The Kremlin: Russian airstrikes against Ukraine will continue; Ukraines policy is not aimed at negotiations. 4. Ukrainian Deputy Prime Minister: A Russian drone strike resulted in the death of a Panamanian crew member in the Black Sea. 5. Moscow Mayor Sobyanin reports that air defense forces shot down three drones heading towards Moscow. 6. Kyiv Electric Power Company DTEK: Russian attacks over the past two days have severely damaged DTEK energy facilities in Ukraines Dnipropetrovsk region. Peace Negotiations: 1. Zelenskyy stated that Ukrainian-Russian negotiations may resume, allowing Russia to finalize specific forms. 2. The Kremlin stated that Russia is willing to engage in dialogue with Europe but will not accept ultimatums. 3. European Commission President Ursula von der Leyen: When Russia comes to the negotiating table, we need a united European message. 4. European Council President Costa: We need to support Ukraine through diplomatic means, including establishing direct communication channels with Russia. Other developments: 1. The Central Bank of Russia cut interest rates by 25 basis points, compared to market expectations of a 50 basis point cut. 2. The International Atomic Energy Agency: Repairs have begun on the main transmission lines of the Zaporizhia nuclear power plant. 3. According to sources, Russias daily gasoline production this week has decreased by a quarter compared to the average daily level in June last year.US President Trump: US Secretary of Defense Hergsay is a born fighter. He has never known what it means to admit defeat. He has an extremely tough personality and is a person who loves the military from the bottom of his heart.US President Trump: (Regarding Venezuela and Cuba) Venezuela has oil. Cuba doesnt. Cuba has decent real estate and a beautiful coastline.John Jumper, a senior research scientist at Googles DeepMind, has decided to leave the company and join Anthropic.

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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