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Market news: Investment group SWI becomes NVIDIA Cloud partner.Bank of England Governor Bailey warned the G20 that new artificial intelligence models pose a threat to stability, and that measures to ensure the safe development and deployment of AI are a top priority.August 31 – As of August 30, the Xinjiang Border Inspection Station had inspected over 3.53 million inbound and outbound passengers this year, a year-on-year increase of 28.2%, reaching this milestone 54 days earlier than last year. Among them, 1.607 million were foreigners, a year-on-year increase of 28.3%, with 647,000 foreigners entering the country enjoying visa-free or temporary entry permit policies, accounting for 79% of the total number of foreign inbound passengers.MINIMAX-W (00100.HK) rose more than 13%, and Zhipu (02513.HK) rose more than 3%.August 31 – Data from ship tracking and trade sources indicates that Asian diesel exports to Africa are expected to reach a new high in at least four and a half years in August. This follows a decline in Middle Eastern diesel shipments, prompting African buyers to seek alternative supply sources. Data from Kpler, Vortexa, and a trade source shows that Asia, including India, will export 1.8 million to 2 million tons of diesel to Africa this month, equivalent to 13.4 million to 14.9 million barrels. Meanwhile, data from LSEG, Kpler, and the aforementioned trade source shows that Middle Eastern diesel exports to Africa fell to 600,000 to 800,000 tons in August, the lowest level in nearly nine years, due to ongoing shipping risks in the Bab el-Mandeb Strait and the Strait of Hormuz. According to Kpler, approximately 50% of Africas diesel imports last year came from the Middle East, with 40% originating from Saudi Arabia. Multiple trade sources indicated that declining operating rates at some of Saudi Aramcos refineries, including those in Jizan, have further limited Saudi diesel exports. According to Kpler data, diesel shipments from the Jizan refinery to Africa fell to zero in August, compared to 163,000 tons in July.

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.