Thursday, 17 August 2017
What’s next? – DAX 17.08.17
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what’s next
DAX
The DAX futures traded 0.08 percent higher at 12,247.0 points as of 07:50 GMT on Thursday, as traders awaited fresh inflation data from the euro zone.
The consumer price index for July will be released as of 09:00 GMT, with analysts forecasting a 1.3 percent advance year-over-year and a 0.5 percent monthly decline.
Trade figures for June are also expected at the same hour, with 22.9 billion euros seen. The European Central Bank will publish its Account of Monetary Policy Meeting at 11:30 GMT.
Traders will pay close attention to that report as they assess expectations for further monetary moves in the near future. However, those expectations took a hit on Wednesday as Reuters reported ECB President Mario Draghi won’t be speaking on monetary policy at Jackson Hole.
With Europe’s first economy about to hold key elections in September, the regulator is likely to opt for a wait-and-see positioning. It’s the safe choice.
Market sentiment in Europe was also affected by tensions between business leaders and Washington. Several CEOs appointed to work with the Trump administration decided to move aside from the government arcs following violent protests in Virginia.
On Wednesday, the German benchmark settled in green territory, supported by utilities, industrials and construction sectors.
The best performers of the session were RWE, which added 2.88 percent to 20.215, followed by Siemens rising 2.09 percent to 112.35 and Continental up 2.03 percent to 193.25.
On the other side of the board, Deutsche Telekom dropped 0.51 percent to 15.615. Adidas fell 0.41 percent to 193.50 and Vonovia was down 0.38 percent to 35.47.
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