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U.S. Energy Secretary: Oil flows smoothly through the Strait of Hormuz thanks to the protection of the U.S. Navy.US President Trump: We will never let Americans fall behind, because we prioritize America.On August 22, a U.S. federal district judge overturned the Trump administrations policy of suspending the issuance of immigrant visas to applicants from 75 countries, stating that the policy exceeded Secretary of State Rubios legal authority. District Judge Janet Vargas stated that the policy announced by the State Department in January was "clearly illegal" and violated federal immigration law. The Trump administration may appeal, and the policy remains in effect.On August 22, Mexicos chief trade negotiator stated that he is confident of securing more lenient U.S. tariff terms on Mexican auto and steel exports, similar to the adjusted measures currently being negotiated by Washington with Canada. This comes after reports that U.S. and Canadian negotiators have made progress toward an agreement as part of a broader effort to ease regional trade rules pushed by Trump. Mexico has not yet reached a similar agreement with the U.S., but Ebrard insisted he expects progress soon. He stated that his team is closely monitoring the negotiations between Washington and Ottawa, adding that Mexico also has its own negotiating strategy.On August 22, the Colombian National Disaster Risk Management Agency issued an updated disaster report stating that the strong earthquake that struck the country recently has caused 329 deaths, 4,600 injuries, and 247 missing persons, with 364 people rescued. According to the China Earthquake Networks Center, a magnitude 7.5 earthquake struck northwestern Colombia on the evening of August 10 (morning of August 10 local time), with a focal depth of 80 kilometers. Thirty-two cities across Colombia were severely affected.

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.