The DAX Index Hit 2-Week Maximum

Forex News

DAX has risen and impressive 1.08% to trade at the maximum of two weeks of 13,310.50. This week, the index increased 3.2%. German Retail Sales gained 2.3%, marking a yearly maximum. German economy remains very strong but the political situation is still unclear. Leaders of Christian Democratic Union keep working on the negotiation with Social Democratic Party, which is scheduled for January 7. Eurozone Consumer Price Index Flash Estimate reduced to 1.4%. Today, the US will release Average Hourly Earnings, Nonfarm Payrolls and ISM Non-Manufacturing PMI.

Recently we got the FOMC protocol of December meeting, which indicated that members are optimistic about the economy and that they improved Gross Domestic Product projections to 2.5% from 2.1%. Fed also assume that tax reform is going to boost consumer spending and economic growth.