The DAX Index Unremarkable
DAX rose 0.11% to trade at 12,455. German trade surplus increased to 20.3 billion euros. Eurozone Sentix Investor Confidence fell to 12.1. Today, Mario Draghi will deliver a speech at the European Parliament Economic and Monetary Affairs Committee. Tomorrow, Germany and Eurozone will feature ZEW Economic Sentiment.
Recently, German Factory Orders reached a 5-month maximum of 2.6%. Industrial Production increased 2.6%, marking a yearly maximum. One of the biggest obstacles to Germany’s economic improvement is Donald Trump’s trade policy. On Friday, US imposed impose its promised tariffs on 34 billion dollars of Chinese imports, known as Section 301. The US President also claimed he might impose a 20% tariffs on European cars if EU doesn’t reduce tariffs on US auto. Currently, EU officials are considering a tariff-cutting agreement.
Friday’s data pointed that US job growth stayed over the 200-thousand threshold. Wage growth, on the other hand, were disappointing. Nonfarm payrolls fell to 213K. Average Hourly Earnings reduced to 0.2%. Jobless rate grew to 4.0%.