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On September 6th, it was announced that the Ministry of Finance will soon issue 300 billion yuan in special treasury bonds to support eight central financial enterprises in replenishing their core tier-one capital. On the same day, the Industrial and Commercial Bank of China, Agricultural Bank of China, Export-Import Bank of China, China Export & Credit Insurance Corporation, PICC, China Life Insurance Company, China Taiping Insurance, and China Reinsurance Corporation announced their respective capital increase plans. Industry insiders stated that the Ministry of Finances capital increase for these eight central financial enterprises is a forward-looking arrangement, a proactive measure to support the high-quality development of central financial enterprises and contribute to the steady and sustainable development of the macroeconomy.On September 6, Iranian Armed Forces Chief of Staff Abdollah Abdullah stated that Iran will not surrender to the United States, and that the USs efforts to pressure Iran through "soft power warfare," cognitive warfare, and economic warfare have failed to force Iran to change its stance. Abdullah claimed that the US misjudged Irans potential surrender before taking military action, but this assumption "will not come true." He stated that the US is currently attempting to compensate for its strategic failures in the military field through "soft power warfare," cognitive warfare, and economic pressure, but these measures are also unsuccessful. Abdullah also stated that Iran "has demonstrated a new model of resistance to the world."Lebanese President: Despite the attacks, we remain firmly committed to upholding Lebanons sovereignty and stability in the south.Lebanese President: The attack on the Ministry of Finance building shows a persistent pattern of attacks, reflecting an intent to strike state institutions.Lebanese President: Israels attacks went beyond the scope of the ceasefire agreement and the framework agreement for national institutions.

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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