The DAX Index Declined, Failed Brexit Meeting
DAX has weakened, dropping 0.45% to trade at 13,000.00. The index keeps sticking to this level, which is sign of a robust improvement. German Final Services PMI reduced to 54.3. Eurozone Final Services PMI rose to 56.2. Tomorrow, Germany will feature Factory Orders and the Eurozone will announce Retail PMI. The Senate has approved the tax bill and thus the greenback significantly reinforced. The corporate tax will be cut to 20% and it will come into life in 2019. Economists say, the plan won’t provide much improvement to the economy. But, the stocks are expected to rise.
Yesterday, Theresa May and Jean-Claude Juncker met to discuss final offers on Brexit. But, the meeting turned out to be an unsuccessful one. Still, the prime minister promised to deal with it before the end of this week, and she is sure that negotiations will see the progress. The main issue, which is pressing on May and her government is the case of Northern Ireland border.