DAX Remains Steady Awaiting Trump-Xi Meeting

Forex News

European equities were trading slightly higher today. The German DAX stock index has posted slight gains today. The DAX is trading at 11.331 level, having added 0.20% on the day. Europe's technology stocks led the gains, up more than 1% amid renewed hopes of a breakthrough in simmering trade tensions between the world's two largest economies.

Consumer confidence in Germany will be slightly weakened at the end of the year, as high inflation rates and global economic uncertainty affect household sentiment. German GfK consumer climate dipped to 10.4 points in December. Economists had forecast a less significant decline, to 10.5. Earlier it was reported, that German Ifo Business Climate marked a 4-month low, falling to 102.3.

Investors are cautious before the speech of the Federal Reserve Chairman and awaiting the important meeting between Chinese President Xi Jinping and US President Donald Trump at the G20 summit in Argentina. Markets expect that the meeting would ease trade tension between the world’s two largest economies.