DAX Significantly Lower In Anticipation Of CPI Data
The German DAX stock index has showed losses today. The DAX is trading at 12.505 level, having lost 0.45%. Earlier today, the DAX was more than 1.0% lower. Since the beginning of the month, the DAX has lost 2.2%. German Preliminary CPI report is in focus. The CPI figures are expected to tick down to 0.1% mom and 2.0% yoy in August.
Increased trade tension between the US and China continues to weigh on the equity markets. The low-level talks between the sides last week proved inconclusive. The US intends to impose further tariffs on some $200 billion in Chinese products. Meanwhile, the China’s government is expected to take retaliatory measures.
Germany's import prices grew at the fastest pace in more than a year in July. Data from Destatis showed that import price inflation accelerated to 5% in July from 4.8% in June. This was the fastest rate since April 2017. On monthly basis, import prices decreased 0.2%, reversing a 0.5% rise in June. German export prices rose to 1.9% yoy in July after rising 1.8% in June. On month, export prices remained flat after rising 0.3% in June.