DAX Trading Sideways
The German DAX stock index has shown limited movement since Monday, after posting strong gains last week. Today, the DAX fell by 0.09% to trade at 12.363 level. Global stocks were pressured by new round of the US-China tariffs war. On Monday, the US imposed tariffs on some $200 billion in Chinese goods, and China responded with tariffs of $60 billion on American imports.
Results of the Fed meeting is in focus of the markets. With the Federal Reserve widely expected to raise interest rates by 25 basis today, financial markets are focused on whether signs of an acceleration in US economic growth will prompt the central bank to ramp up the pace of monetary policy tightening. The Chairman of the Federal Reserve will deliver his views on the Fed’s monetary policy. As usual, more hawkish than expected is good for the US currency.
Germany will publish Preliminary CPI and GfK Consumer Climate tomorrow. The consumer price inflation in Germany is expected to be unchanged at the 1.9% level in September.