The DAX Index Rises To 6-Week Maximum, Shrugging Off European ZEWs
DAX has improved. The Index rose 1.11% to trade at the 6-week maximum of 12,529 pts. German ZEW Economic Sentiment declined 8.2 pts, marking a 6-year minimum. Eurozone ZEW Economic Sentiment fell to the 2-year minimum of 1.9 pts from 13.4 pts. Still, the economy remains firm. Tomorrow, Eurozone will release Final Consumer Price Index.
Trade tension between US and China, Brexit process and attacks in Syria interfere with the ECB policy path. Members are concerned about current risks to the global economy and have doubts about ending the asset purchase program. The longer exit path can’t be ruled out. As of rate hikes, none of them are expected in 2018.