DAX Starts the Week With Losses

Forex News

European stocks are trading significantly lower today, continuing sales in the global market. Germany's DAX stock index fell 0.98% and is trading at 12.659.00. Deutsche Bank's shares fell more than 5% at the end of last week, sending European stock markets to red territory. The DAX was at its lowest level since September 26, down 4.3% on last week.

The volume of retail sales in the Eurozone fell by 1.1% in December, in contrast to the growth of 2% in November. The result coincided with the expectations of economists. The annual growth in retail sales fell to 1.9% from 3.9% in the previous month.

As the Eurozone economy continues to grow, there has been speculation that the ECB could complete its asset purchase program (QE) in September and move on to regulatory policies and possibly raise interest rates. But still, ECB representatives said that the quantitative easing program could be extended if inflation remains well below the ECB's target of 2.0%