European Shares Rose With DAX 0.45% Up

Forex News

European equities are trading higher today, in anticipation of the historic meeting between the US President and the leader of North Korea. The German DAX stock index has increased by 0.45% to 12.824 level. Germany and the Eurozone will publish ZEW Economic Sentiment on Tuesday.

The focus of the markets is on a landmark summit between North Korea and the United States. Both President Donald Trump and North Korean leader Kim Jong Un have already arrived in Singapore before the scheduled meeting on Tuesday morning. The meeting will take place after the tension between the Trump and the Western allies after the G-7 meeting. Trump decided to reject the joint statement of the G-7 after Prime Minister of Canada Justin Trudeau's comments that US tariffs were offensive.

The upcoming meeting of the European Central bank is also in focus. The ECB will hold its next policy meeting on Thursday. The ECB’s QE program is set to run at a pace of €30 billion per month into September, but the central bank has already signalized about soon end of the program. After the meeting this week, there are only two meetings left – July and September – before the QE program runs its course.