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On December 5th, JD.com issued a statement regarding the implementation of the recommended national standard "Basic Requirements for Service Management of Food Delivery Platforms": JD.com will voluntarily implement the national standard "Basic Requirements for Service Management of Food Delivery Platforms," systematically integrate the standard requirements into the platforms operation management and service processes, continuously optimize platform rules, improve the service management level of merchants and delivery personnel, enhance consumer experience, and protect the rights and interests of delivery personnel, consumers, and merchants.Japanese Chief Cabinet Secretary Minoru Kihara: We are discussing measures to reduce defense spending.December 5th - Analysts say silver prices have stabilized after eight consecutive days of gains, as traders took profits on the recent overheated rally, causing prices to retreat from record highs reached earlier this week. Silver fell more than 2% in the previous trading day, ending its eight-day winning streak. Thursdays pullback removed silver from overbought territory. This round of silver price increases was mainly driven by market expectations that the Federal Reserve will cut interest rates at its meeting next week. Interest rate swap contracts indicate that a Fed rate cut is almost a certainty, which is beneficial for non-interest-bearing precious metals. Even with the latest initial jobless claims falling to a three-year low, market bets on a rate cut remain solid.On December 5th, Venezuelan President Maduro stated in a live broadcast on December 4th that Venezuela might engage in "armed struggle" if necessary, but its ultimate goal is to defend peace and national sovereignty. Maduro said that if the Venezuelan government is forced to resort to armed conflict, it will fight for peace, sovereignty, the homeland, and to defend its land. Venezuela will continue along its current path.Japanese Finance Minister Satsuki Katayama: Specific monetary policy measures will be decided by the Bank of Japan.

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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