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Market news: Japan will support the construction of pipeline facilities outside the Strait of Hormuz. Japan plans to provide additional shipping cost support.On August 26, Hong Kong Chief Executive John Lee met with Peking University Party Secretary He Guangcai to exchange views on promoting cooperation between Hong Kong and the Mainland in higher education, cultivating international talent, and strengthening scientific research collaboration. Lee stated that the Hong Kong SAR government is accelerating the development of the Northern Metropolitan Area and has reserved ample land for the planning of a university town. Through quality improvement and expansion, the government aims to enhance higher education, scientific research and innovation, and talent training facilities to attract more high-level international talent to Hong Kong. During the meeting, both sides exchanged views on the development model of the Northern Metropolitan University Town. Lee was greatly encouraged by Peking Universitys strong support for deepening cooperation between Beijing and Hong Kong in higher education. He pointed out that he looks forward to Peking University and Hong Kong universities continuing to deepen cooperation through the Beijing-Hong Kong University Alliance, further promoting complementary advantages between the two universities, and cultivating more globally competitive high-level talent for the country and Hong Kong.On August 26, Foreign Ministry Spokesperson Lin Jian held a regular press conference. It was reported that China announced President Xi Jinpings attendance at the 2026 Shanghai Cooperation Organisation (SCO) Summit. What message does China hope to convey through its attendance at the summit? Lin Jian stated that during this years Bishkek Summit, President Xi Jinping will exchange in-depth views with leaders of participating countries on deepening cooperation in various fields within the SCO under the new circumstances, as well as on major international and regional issues. He will also make plans and arrangements for guiding the SCOs high-quality development and participating in the reform and construction of the global governance system. China is willing to work with all parties to further consolidate consensus at the Bishkek Summit, jointly write a new chapter of cooperation, and make positive contributions to promoting the security, stability, development, and revitalization of countries in the region and building a community with a shared future for mankind.The chart shows that at 22:00 Beijing time on August 26, there will be large foreign exchange options contracts for Euro, Japanese Yen, British Pound, and Australian Dollar expiring, including 6 contracts with strike prices exceeding 1 billion. Please manage your risks.According to the latest data from the Fujairah Oil Industrial Zone in the UAE, as of the week ending August 24, total refined product inventories at the port of Fujairah were 6.359 million barrels, a decrease of 1.393 million barrels from the previous week. Specifically, light distillate inventories increased by 310,000 barrels to 1.241 million barrels; middle distillate inventories decreased by 7,000 barrels to 1.464 million barrels; and heavy distillate and residual fuel oil inventories decreased by 1.696 million barrels to 3.654 million barrels.

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.