DAX Fell as German Services PMI Showed Decrease

Forex News

The German DAX index fell by 0.35% and is trading at 12.43.50. The German Final Services PMI fell to 53.1. Eurozone Final Services PMI showed growth to the level of 55.4. Retail sales in the euro area rose to 0.5%, ahead of the forecast of 0.0%.

Inflation in the euro area remains well below the ECB's target of 2%. The producer price index in the Eurozone fell by 0.1% in June. Meanwhile, Eurozone Preliminary Flash GDP showed a positive growth of 0.6%, which is the highest since the first quarter of 2016.

Investors do not expect any changes in the ECB's monetary policy, since the inflation levels in the Eurozone are still low. Currently, the ECB's interest rate is at the level of 0.00%.