In anticipation of important economic data from the USA, the DAX is initially moving downwards.
After the DAX missed another record high of over 17,050 points by just a few points at the beginning of the week, it went south by 0.30 percent to 16,987.09 units at the start on Tuesday. The discount is currently 0.60 percent to 16,934.77 points.
Signs of fatigue on Wall Street are likely to slow the upward momentum on the German stock market on Tuesday. Although the major stock market indices in the USA had again reached highs the day before, they were unable to quite maintain this at the closing bell. “Profit-taking can be observed again and again around the 17,000 mark,” wrote the market experts at Index Radar. Although the DAX is still within sight of its most recent record high, “there is no real buying mood.”
Fresh US inflation data expected
Investors are eagerly awaiting the US inflation data that is important for the US Federal Reserve’s interest rate policy. The development of consumer prices in the USA in January is due to be published on Tuesday. The inflation rate rose to 3.4 percent in December, after plus 3.1 percent in November. The Fed wants to control inflation sustainably towards its target value of two percent. Before she tackles the interest rate turnaround, she wants to make sure that the wave of inflation has really been broken.
ZEW index at a glance
In Germany, the Mannheim Center for European Economic Research (ZEW) presented the survey on investors’ economic assessments in February.
Editorial team finanzen.net / dpa-AFX / Reuters