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On May 24th, a White House official in charge of the 2026 FIFA World Cup said on the 22nd that, due to the Ebola outbreak, the Democratic Republic of Congo (DRC) national team must undergo a 21-day quarantine outside the United States before entering the country to participate in the tournament. The DRC team responded that day, stating that they would not change their existing World Cup warm-up match plans.The European-Mediterranean Seismological Centre reports a 5.2-magnitude earthquake in central Türkiye.Polish military: Polish military aviation is conducting operations in its own airspace in response to Russian long-range aviation strikes against Ukraine.According to Irans Fars News Agency: Despite US President Trumps claim that the Strait of Hormuz will be restored to its original state, the strait will remain under Iranian control.On May 24th, Al Jazeera, citing sources, reported that the draft agreement to be finalized includes the following: ending the war on all fronts, including Lebanon; unfreezing billions of dollars of frozen Iranian funds; lifting the US naval blockade and opening the Strait of Hormuz; and the withdrawal of US troops from areas near Iran. Following this, the two sides will have 30 days to reach an agreement on the nuclear issue, a period that can be extended by mutual agreement. During these 30 days, passage through the strait will be facilitated. Iran stated that the management of the Strait of Hormuz is a matter between Iran and Oman, and that it is currently consulting with Oman.

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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