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The VIX fear index fell to a more than one-week low, last down 0.89 points to 16.79.Italys trade balance in April was €4.293 billion, compared to €4.709 billion in the previous month.June 15th Futures News: On June 15th, the Shanghai Futures Exchanges energy and chemical warehouse receipts and changes are as follows: 1. Pulp futures warehouse receipts: 236,744 tons, an increase of 63 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 1,557 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,640 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 3,116 tons. 6. Petroleum asphalt futures warehouse receipts: 21,120 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 95,070 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.The UK government is considering a nighttime curfew and an endless rolling suspension mechanism for users under 18 (regarding the social media ban), and will release more details in July.On June 15th, European Central Bank (ECB) Governing Council member Barry Kazzak stated that despite the recent improvement in geopolitical tensions following the US-Iran agreement, inflation risks in the Eurozone remain skewed to the upside. For Kazzak, the key issue is no longer merely energy prices, but whether the energy shock has already spread to the broader economy through higher inflation expectations. Kazzak also noted that "the ECB can act gradually," suggesting a willingness to pause policy decisions and observe energy price and economic data trends during the summer. However, he also stated that the ECB is prepared to act again if necessary.

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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