DAX Falls Despite Strong Gains on Wall Street

Forex News

The German DAX stock index shows slight decrease today. The DAX fell by 0.18% to trade at 11.558 level. Global stocks were higher yesterday, after the outcome of the US midterm elections met investors' expectations. Major US indices were up by about 2%.

Markets are focused on the US Fed meeting. The Fed is expected to leave rates unchanged in a range of 2%-2.25% at its two-day policy meeting concluding Thursday. However, some analysts have questioned whether October’s stock-market selloff could diminish the chances of the Fed moving in December. European stocks reached its lowest levels since December 2016 last month.

Germany's exports and imports unexpectedly fell in September. Exports fell by 0.8% compared with the previous month, imports fell 0.4%. Economists had forecast a rise in exports of 0.3% and an increase in imports of 0.8%. On an annual basis, exports declined by 1.2%, while imports rose by 5.3% in September. Germany's trade surplus narrowed to 17.6 billion euros ($20.09 billion) from a revised 18.2 billion euros in August.