The DAX Rising, US and China Reassured Market
DAX lifted 0.73% to trade at 12,027 pts. German unemployment change dropped 19K. Today’s key event is German Preliminary Consumer Price Index. US Final Gross Domestic Product has been revised up to 2.9%. The greenback responded with rise. Projections suggest that Q1 2018 will be less successful, slowing to 1.8%. But, some believe that economic growth will reach 3%. It seems that chances for 4 rate hikes this year keep increasing.
Investors are now less worried about the potential US-China war. As we may recall, the US proposed a $60 billion tariffs on China goods. China, in her turn, responded with a list of retaliatory tariffs. The two countries are discussing the issue, and markets are hopeful they will find a proper solution.