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On September 13, the Canadian Prime Ministers Office announced that Prime Minister Mark Carney will visit Strasbourg, France, and Liverpool, UK, from September 15-17. The announcement stated that the Canadian government is building diverse partnerships. In France, Carney will address the European Parliament at the invitation of European Parliament President Jean-Michel Mezzola, attend European Commission President Ursula von der Leyens State of the Union address, and meet with MEPs to strengthen ties between Canada and the EU in trade, investment, and security. In the UK, Carney will hold his first meeting with Prime Minister Burnham to discuss priorities in bilateral relations, particularly in defense, energy, artificial intelligence, and critical minerals.On September 13, Iraqi Deputy Prime Minister and Foreign Minister Fuad Hussein spoke by phone with Iranian Foreign Minister Araqchi on September 12, local time. According to the Iraqi Foreign Ministry, the two sides discussed the reasons for Iraqs recent temporary closure of some border crossings with Iran and the subsequent arrangements, and exchanged views on the attacks on Saudi Arabia and the progress of related investigations. They also discussed a regional conference planned for Oman. Member states of the Gulf Cooperation Council, Iraq, and Iran will participate, focusing on issues related to the Strait of Hormuz. Hussein stated that Iraq supports holding the conference and will send a delegation. The two sides also exchanged views on the situation in Yemen and expressed their commitment to easing regional tensions through dialogue and negotiation.On September 13, local time, Houthi military spokesman Yahya stated that in response to Saudi Arabias continued military operation in Yemen, the Houthi rebels launched a military operation, striking an weapons depot at a military base in Saudi Arabias Shahrala region, as well as the command and control center responsible for directing and coordinating military operations against Yemen and its people. Yahya said the operation used a large number of ballistic missiles and drones, and the target was "precisely and directly struck." He warned that if Saudi Arabia continues its military operation in Yemen, the Houthi forces will launch larger-scale and more intense military operations against targets deep within Saudi territory, and Saudi Arabia will bear serious consequences.On September 13, the Prime Minister of Qatar and the Deputy Prime Minister and Foreign Minister of Jordan discussed diplomatic efforts to "de-escalate tensions and promote security and stability." Both sides stated that Qatar supports all efforts aimed at "reaching a solution that ensures freedom of navigation at sea and paving the way for a comprehensive agreement that achieves lasting peace in the region." They also discussed ways to support and strengthen bilateral cooperation.On September 13, the Saudi Civil Defense Agency issued a statement on the evening of the 12th, saying that the Tuwar district of Jazan province in Saudi Arabia was attacked by Yemeni Houthi rebels that day, resulting in two injuries and damage to several buildings and vehicles. The Saudi Civil Defense Agency stated that the attack on civilian targets was a blatant violation of international humanitarian law, and that the incident had been handled according to established procedures. On the same day, the Yemeni Houthi rebels said that Saudi warplanes had conducted 129 airstrikes on seven provinces in Yemen in the past 48 hours. The group warned that these airstrikes "will not go unpunished."

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.