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According to Al Arabiya, Ibrahim Aziz, chairman of the Iranian parliaments National Security Committee, said that any agreement between Iran and the United States would not mark the end of the confrontation between the two countries, and called the conflict "fundamental and existential" for Tehran.On May 26, the Russian Foreign Ministry website published a statement on May 25 saying that Russian Foreign Minister Sergey Lavrov spoke by phone with US Secretary of State Marco Rubio that day. Following instructions from Russian President Vladimir Putin, Lavrov informed the US that Russia had begun a systematic offensive against military facilities in Kyiv, the capital of Ukraine. Lavrov stated that in response to Ukraines continued attacks on Russian civilians and civilian facilities, the Russian military was conducting systematic and sustained strikes against facilities in Kyiv serving the Ukrainian Armed Forces. He reminded the US of the statement issued by the Russian Foreign Ministry that day and advised US diplomats and citizens to evacuate from Kyiv. The statement also said that the two sides exchanged views on the Strait of Hormuz and the situation in Cuba. Furthermore, both sides expressed their commitment to intensifying efforts to normalize the work of their respective diplomatic missions.Russian Foreign Ministry: Russian Foreign Minister Lavrov spoke by phone with Rubio, informing him of Russias decision to launch strikes against military-related locations in Kyiv in response to "terrorist acts" in Ukraine.Spain reports one new case of Hantavirus infection.Iranian state media: The Iranian president has ordered the restoration of internet services.

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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