The DAX Index Subdued By Political Crisis
12/22/2017 11:34 AM UTC
DAX has declined 0.23% to trade at 13,079.50. This came as a reaction to Catalonia regional election. Three Catalonian parties (Together for Catalonia, Republican Left of Catalonia and Popular Unity) won 70 seats out of 135. Still, that doesn’t solve the division and political crisis in the region. German GfK Consumer Climate rose to 10.8. Import Prices increased 0.8%. US Final Gross Domestic Product was strong, having risen 3.2%. Considering GDP report, investors become more confident and odds for January rate hike hit 98%. The US Senate voted for the tax bill. Soon President Trump will sign it and then it will come into effect in the coming year. Corporate tax rate will be cut from 35% to 21%.