DAX Index Tries To Push Through 13.000 Level
European stock indices weakened slightly, while investors focused on the Italian political situation, US-China trade relations and falling oil prices. The German DAX stock index has lost 0.33%. Currently, the DAX is trading at 12.958 level.
Germany and the Eurozone will release data on GDP tomorrow. Considering the fact that economic growth in the Eurozone slowed in the first quarter, GDP in both Germany and the Eurozone is expected to fall from 0.6% in the fourth quarter to 0.4% in the first quarter of 2018. Earlier, the Germany’s government has lowered its economic growth forecast for this year to 2.3% from 2.4% previously.
The US inflation levels remain low, and the Federal Reserve target of 2% remains elusive. CPI rebounded with a gain of 0.2%, but this fell short of the estimate of 0.3%. Core CPI edged lower to 0.1%, shy of the forecast of 0.2%. Inflation levels will be an important factor for the Fed in its monetary policy projection, which remains at two more hikes in 2018. The odds of a rate hike at the June meeting stand close to 100%.