DAX Rally Continues As Trump Suspends Auto Tariffs

0
3


The started the week with sharp losses, but has rallied and is on its way to a third straight winning session. Currently, the DAX is at 12,189, up 0.74%. In economic news, there are no major German or eurozone events. The eurozone trade surplus narrowed to EUR 17.9 billion in March, down from 19.5 billion a month earlier. On Wednesday, the eurozone releases consumer spending reports.

Global equity markets continue to show strong movement, in response to breaking developments in the global trade war. The DAX plunged 1.5% on Monday, as China retaliated against the U.S. and slapped tariffs on $60 billion in U.S. products. However, the blue-chip DAX has been quick to recover, jumping 2.7% since Monday. Investors have regained risk appetite, as the trade talks between the U.S. and China have not been derailed, even with the latest tariff tussle. Investors had been worried that Trump might target European and Japanese vehicles with new tariffs, and this had triggered sharp losses for German automakers listed on the DAX, including Bayerische Motoren Werke AG (MI:), Daimler and Volkswagen (DE:). There was relief on Thursday after President Trump announced a 6-month delay on any car tariffs.

Economic Calendar

Thursday (May 16)

  • 4:15 German Buba President Weidmann Speaks
  • 5:00 Eurozone Trade Balance. Estimate 19.0B. Actual 17.9B
  • All Day – Eurogroup Meetings

Friday (May 17)

  • 5:00 Eurozone Final CPI. Estimate 1.7%
  • 5:00 Eurozone Final Core CPI. Estimate 1.2%

*All release times are DST

*Key events are in bold

DAX, Thursday, May 16 at 7:40 DST

Previous Close: 12,099 Open: 12,063 Low: 12,029 High: 12,204 Close: 12,189

Original post

Disclaimer: FX Forex Trading would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore FX Forex Trading doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

FX Forex Trading or anyone involved with FX Forex Trading will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


#DAX30 #German30



Source link

Advertisements

What You Think About This Topic? Leave Your COmment