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July 22nd - On July 21st, Pony.ai (02026.HK) and JD Auto Service reached a strategic cooperation agreement. The two companies will collaborate deeply on areas such as maintenance services for autonomous vehicles and supply chain collaboration, jointly building a standardized and large-scale operation and maintenance service system for autonomous vehicle fleets. This marks the first time an autonomous driving company has established a comprehensive strategic partnership with a nationwide automotive aftermarket service platform.July 22 – With the approval of the State Council, the General Administration of Sport today released the "15th Five-Year Plan for Building a Sports Power." This is the first national-level special plan themed on "building a sports power," and it systematically deploys the construction of a sports power and the promotion of high-quality sports development during the 15th Five-Year Plan period. The Plan proposes that by 2030, the overall quality and efficiency of sports development will be significantly improved, its comprehensive value and diverse functions will be fully demonstrated, the foundation for sports to become a landmark undertaking for the great rejuvenation of the Chinese nation will be more solid, the per capita sports venue area will reach about 4 square meters, the proportion of people who regularly participate in physical exercise will reach about 40%, the national physical fitness rate will reach 31.1%, the number of world champions will rank among the top, and the total scale of the sports industry will exceed 7 trillion yuan.Russian Foreign Minister Sergey Lavrov: A meeting with US Secretary of State Marco Rubio is scheduled for tomorrow.Jefferies: Inflation data reinforces the Bank of Englands case for maintaining interest rates rather than raising them in the long term. However, geopolitical risks could push up inflation, keeping markets cautious.According to Fox News: U.S. Trade Representative Greer will testify before a Senate subcommittee today regarding Trumps trade and tariff policies.

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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