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On May 9th, New Zealands Resources Minister Shane Jones told the media that New Zealand is considering establishing a physical national fuel reserve overseas, and is currently comparing several options, including Malaysia, Singapore, and South Korea. AFP quoted Jones on May 8th as saying that New Zealand is currently facing a "fuel dilemma," and government officials are discussing where to locate a physical national fuel reserve overseas. In a previous Bloomberg report, Jones stated that New Zealands domestic oil storage capacity is insufficient, "but we have several (overseas storage) options."The Peoples Bank of China (PBOC) announced today that it conducted a 7-day reverse repurchase operation of 500 million yuan, with a bid amount of 500 million yuan and a winning bid amount of 500 million yuan. The operation rate was 1.40%, unchanged from the previous rate.According to AXIOS reporters, two sources familiar with the matter revealed that Qatar is acting as one of at least three clandestine communication channels between the US and Iran. These sources stated that Qatar is utilizing its relationships with senior Islamic Revolutionary Guard Corps commanders involved in decision-making regarding Irans negotiations with the US.The Federal Bureau of Investigation (FBI) has become aware of a service disruption affecting an online learning management system, which has impacted schools, educational institutions, and students across the United States.① Iran 1. Iranian merchant ship attacked by US forces, 10 injured, 5 missing. 2. Iranian official: A missing sailor died in last nights US attack. 3. Iranian Foreign Ministry strongly condemns US attack on Iranian oil tanker. 4. Maritime intelligence company reports three Iranian oil tankers broke through US blockade. 5. Iranian armed forces clashed sporadically with US warships in the Strait of Hormuz. 6. Iranian Foreign Minister: Irans current missile stockpile and launch capacity have increased by 20% compared to February 28. 7. Iranian Foreign Ministry: The armed forces are fully prepared to retaliate against any aggression. 8. Iranian Foreign Minister: The destructive actions of the United States are weakening the diplomatic process. 9. Iranian Foreign Ministry: The USs baseless attacks on Iraqi officials are shameful and pathetic. 10. Iranian media: A senior Iranian lawmaker stated that from now on, the US maritime blockade will be met with a military response from Iran. 11. Advisor to Irans Supreme Leader Mohber: The UAE has already been punished and will suffer even harsher punishment. These countries, once considered safe havens for investment, are now facing capital flight. ② The United States: 1. The US military says it fired on two Iranian oil tankers, rendering them unable to navigate. 2. US media reports that Vance met with the Qatari Prime Minister to discuss negotiations with Iran. 3. The US says it will facilitate the Israel-Lebanon talks. 4. Trump says he may resume the "Freedom Project." ③ Israel: 1. According to Tasnim News Agency: The Israeli military announced that its radar system misjudged the launch of two Iranian missiles. ④ Strait of Hormuz: 1. An Iranian cargo ship seized by the US arrived at the port of Karachi, Pakistan. 2. US: Currently, more than 70 oil tankers are blocked from entering or leaving Iranian ports. 3. No large merchant ships have passed through the Strait of Hormuz in the past 24 hours. 4. Iranian media: Iran is developing a plan for a "legal regime" in the Strait of Hormuz, which will become permanent law. ⑤ Ceasefire Negotiations: 1. The Qatari Prime Minister called on all parties to create conditions for the resumption of US-Iran negotiations. 2. Iranian media: Iran says it is still reviewing the US proposal to end the war. 3. US Secretary of State: We should get a response from Iran today (August 8). We hope the US and Iran will enter into a serious negotiation process. 6. Other situations: 1. The UAE was attacked again by Iranian missiles. 2. Russian State Atomic Energy Corporation: Construction at the Bushehr nuclear power plant in Iran is gradually resuming operations. 3. Israeli official: Since March 2, we have killed more than 2,250 Hezbollah members in Lebanon. 4. Observers say the US and Israeli airstrikes have set Irans nuclear program back by up to two years. 5. According to Al Arabiya: Saudi Arabia says it has not allowed other countries to use its airspace for offensive operations. 6. According to Irans Mehr News Agency: Flights between Dubai and Abu Dhabi have been suspended due to the activation of the UAEs air defense system. 7. Satellite images show a suspected large-scale oil spill near Kharg Island, Iran. Iranian lawmaker: The oil spill near Kharg Island is actually emissions from European oil tankers.

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.