The DAX Index is Peaking
DAX has significantly improved, lifting 1.00% to 13,190.00. This came as a reaction to Jerome Powell’s comments about eased regulations for small banks and more restriction for big ones. Commerzbank increased 1.16%. Deutsche Bank rose 1.17%. Germany is going to publish Preliminary Consumer Price Index and the US will announce Preliminary Gross Domestic Product. Tomorrow, Germany will present releases retail sales and the Eurozone will feature CPI Flash Estimate.
As we already know, Angela Merkel is going to negotiate with SPD and form a Grand coalition. She is getting ready to meet with SPD and CSU leaders. The Chancellor is hoping that there would a mutual understanding between the parties. But, some SDP members might refuse cooperating with Merkel’s CDU. The discussion is likely to begin after the new year.