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The UK Prime Ministers Office: Prime Minister Burnham held talks with business groups and said the UK will act "more aggressively" if markets and regulations fail to meet expectations.The SC crude oil main contract weakened during the session, with the decline widening to 3.02%, and last quoted at 574.9 yuan/barrel; the trading volume was approximately 23.921 billion yuan, with a decrease of nearly 600 lots in open interest during the day, and open interest slightly declining.Iranian Foreign Minister Araqchi: Iran has made it clear that it will not succumb to US bullying and will not respond to threats, pressure or intimidation.July 24th - U.S. new home sales rebounded for the first time in three months in June, driven by significant price cuts from developers that offset high mortgage rates and weak consumer confidence. Junes annualized new home sales rose 1.6% year-over-year to an average of 628,000 units, exceeding the expected 607,000 units. The median selling price fell 2.7% year-over-year to $398,300, marking the fifth year-over-year decline in six months this year. The improved sales in June likely reflect substantial discounts, as developers continue to offer promotions and price reductions to stimulate weak market demand.On July 24th, Shanghai Auntie (02589.HK) issued a positive profit forecast, expecting to record a profit of approximately RMB304 million to RMB325 million for the first half of the year, representing an increase of approximately 50% to 60% compared to a profit of RMB203 million in the same period last year. The Group expects to record an adjusted profit (non-IFRS accounting standards) of approximately RMB331 million to RMB356 million for the reporting period, representing an increase of approximately 36% to 46% compared to an adjusted profit of RMB244 million in the same period last year.

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.