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Germanys construction PMI for July was 42.1, compared to 44.8 in the previous month.Pricing documents show that Saudi Arabia has set the official selling price for its Arab Light crude oil sold to Asia in September at a discount of $2 per barrel to the Oman/Dubai average price.Futures News, August 6th: Shanghai Futures Exchange (SHFE) Energy and Chemical Warehouse Receipts and Changes on August 6th: 1. Pulp futures warehouse receipts: 367,365 tons, an increase of 4,003 tons compared to the previous trading day; 2. Pulp futures mill warehouse receipts: 20,000 tons, unchanged compared to the previous trading day; 3. Offset paper futures warehouse receipts: 2,758 tons, unchanged compared to the previous trading day; 4. Offset paper futures mill warehouse receipts: 6,520 tons, unchanged compared to the previous trading day; 5. Fuel oil futures warehouse receipts: 4,420 tons. 6. Petroleum asphalt futures warehouse receipts: 13,260 tons, unchanged from the previous trading day; 7. Petroleum asphalt futures factory warehouse receipts: 18,210 tons, unchanged from the previous trading day; 8. Medium-sulfur crude oil futures warehouse receipts: 2,961,000 barrels, unchanged from the previous trading day; 9. Low-sulfur fuel oil futures warehouse receipts: 5,000 tons, unchanged from the previous trading day; 10. Low-sulfur fuel oil futures factory warehouse receipts: 0 tons, unchanged from the previous trading day.The chart shows that at 22:00 Beijing time on August 6, there will be large foreign exchange options contracts for EUR/USD and USD/JPY expiring, including 10 contracts with strike prices exceeding 1 billion. Please manage your risks.On August 6th, the Ministry of Industry and Information Technology issued the "15th Five-Year Plan for the Safe Development of the Civil Explosives Industry." The plan proposes adjusting the product structure, continuously increasing the proportion of licensed on-site mixed explosives production capacity, promoting formula diversification, enriching and improving the categories of civil explosives to better meet market demand, supporting the replacement and withdrawal of excess capacity in small-variety products to improve resource utilization efficiency, and steadily promoting the inclusion of new types of civil explosives into the regulatory scope.

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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