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The Hang Seng Index closed down 237.75 points, or 0.93%, at 25,413.12 on Monday, September 7; the Hang Seng Tech Index closed down 42.09 points, or 0.92%, at 4,527.71 on Monday, September 7; the H-share Index closed down 125.3 points, or 1.46%, at 8,429.73 on Monday, September 7; and the Red Chip Index closed down 37.01 points, or 0.88%, at 4,176.45 on Monday, September 7.September 7th - Chinas gold reserves at the end of August were 76.73 million ounces (approximately 2,386.57 tons), an increase of 650,000 ounces (approximately 20.22 tons) month-on-month. This marks the 22nd consecutive month that the Peoples Bank of China has increased its gold holdings.Iranian Foreign Ministry spokesman Bagaei said an agreement on a temporary passage through the Strait of Hormuz will be reached in the coming days.On September 7th, the Shanghai Council for the Promotion of International Trade (CCPIT) announced arrangements for the Beijing and Shanghai Auto Shows: To properly address industry concerns, the Shanghai CCPIT and the automotive industry CCPIT, after multiple rounds of consultations, held a special coordination meeting on September 3rd regarding the Beijing and Shanghai Auto Shows. Adhering to the principles of frankness, pragmatism, prioritizing the overall situation, and mutual benefit, both sides fully discussed matters such as the standardized organization and collaborative cooperation of the two auto shows, reaching important consensus. Both sides agreed to continue maintaining the existing pattern of holding comprehensive auto shows every other year. The Beijing Auto Show, to be held in Beijing in March 2027, will be presented as a specialized themed exhibition. This arrangement continues the long-established and mature exhibition mechanism, which is conducive to coordinating industry resources, avoiding overlapping exhibition functions, and better serving the high-quality development of the automotive industry.According to RIA Novosti, Russia has stated that favorable conditions for dialogue with the United States on strategic stability have not yet been established.

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.