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On August 25th, Anwar Gargash, advisor to the UAE president, stated that Irans attacks on Gulf states have weakened its own position and suggested that Tehran should cooperate with its neighbors to end the conflict. Gargash stated, "As the US-Iran confrontation enters a new phase characterized by escalating economic pressure, the end of attempts to control the Strait of Hormuz, and the conclusion of the memorandum of understanding phase, we reiterate that Irans aggression against the Arab Gulf states has not achieved its intended objectives; it has only deepened Tehrans predicament and proven to be a seriously misguided strategic choice, exacerbating Irans isolation and weakening its own position." "The way to end this war is not through attacking the Arab Gulf states, but through cooperation with them to pave the way for de-escalation and a political solution to the conflict."On August 25, a spokesperson for the Qatari Ministry of Foreign Affairs stated that Qatar opposes Irans attempts to drag regional countries into war should a third party attack it. He also indicated that Gulf states have fully coordinated on the possibility of escalation. The Qatari Ministry of Foreign Affairs stated that the situation in the Strait of Hormuz should return to its pre-crisis state and emphasized the necessity of freedom of navigation.On August 25, a spokesperson for the Qatari Ministry of Foreign Affairs stated that the US sanctions against Iran are unilateral, and Qatar supports mediation efforts to resolve the dispute between the two countries.A spokesperson for the Qatari Foreign Ministry said that pressure must be put on Israel to implement Trumps plans regarding Gaza.A spokesperson for the Qatari Ministry of Foreign Affairs stated that all Gulf states support a peaceful resolution to the crisis between the United States and Iran.

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.