DAX Gains Ground as Global Stocks Recover

Forex News

European stocks rebounded today, as global sentiment became more positive. The German DAX stock index rose by 0.68% to trade at 11.617 level. The global stocks showed considerable losses this week, amid jump in US bond yields and growing fears about the impact of the US-China trade war. The DAX reached a low of 12.518 this week, its worst showing since February 2017. Overall this week, the DAX has lost 3.5%.

Global stock markets were shocked by two consecutive sessions of losses in the US, and Asian stock indices closed mixed on Friday. Traders are increasingly worried about the prospect of rising interest rates and stricter Federal Reserve policies, as well as warnings from the International Monetary Fund about the risks of global economic growth.

Germany's consumer price inflation rose to its highest level in nearly seven years in September. Today’s data showed, that the German consumer prices advanced 2.3% yoy, the fastest since November 2011, when inflation was 2.4%. Prices had advanced only 2% in August. On a monthly basis, inflation rose to 0.4% from 0.1% in August. Both annual and monthly rates matched initial estimate published on September 27.