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Barclays currently expects the Bank of England to raise interest rates by 25 basis points each in November and February 2027, citing persistent inflation risks and the impact of the Middle East conflict.September 18 – According to the Associated Press, the U.S. State Department confirmed that it has approved Iranian President Peshizian and Iranian Foreign Minister Araqchi, along with other senior officials, to travel to New York for next weeks high-level meeting of the United Nations General Assembly. The State Department stated that the Iranian "core delegation" and essential personnel will be allowed to attend the General Assembly activities, but will be subject to travel restrictions and will be prohibited from purchasing luxury goods and other restricted items in accordance with U.S. policy. The U.S. stated that this years Iranian delegation is smaller than last years. This decision was made against the backdrop of the ongoing U.S.-Iran conflict, which has lasted for more than six months. Currently, there has been no significant progress between the two sides on reopening the Strait of Hormuz and resuming negotiations on the Iranian nuclear issue. As the host country of the United Nations, the United States is usually bound by obligations to the host country and finds it difficult to prevent foreign leaders from attending the General Assembly. Previously, the United States has also issued limited visas to representatives of countries involved in conflicts and imposed restrictions on their activities. This decision to approve the Iranian delegations visas comes just one day after the U.S. refused to allow Palestinian President Mahmoud Abbas and his delegation to the General Assembly.A U.S. State Department spokesperson said that the core delegation of the Iranian regime will be able to attend the high-level week of the UN General Assembly.U.S. State Department: Washington has issued visas to Iran to attend a United Nations meeting.Houthi rebels in Yemen: In the past 24 hours, the Saudi Air Force launched 37 airstrikes on Taiz and Hodeidah provinces in Yemen, using F-15 fighter jets that took off from Khamis Mushait Air Base, causing civilian casualties.

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.