Friday, 25 August 2017
What’s next? – DAX 25.08.17
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what’s next
DAX
The DAX futures traded 0.24 percent higher at 12,210.5 points as of 08:20 GMT on Friday, as all eyes turned to the Jackson Hole symposium in Wyoming in search for further guidance over monetary policy plans for the United States and the European Union.
There are two key speeches due today - Federal Reserve Chairwoman Janet Yellen at 14:00 GMT and European Central Bank President Mario Draghi as of 19:00 GMT.
Both speeches are relevant for investors as these two central banks are currently in the spotlight for their intentions to normalize monetary policy in the near future, reducing stimulus programs.
Private reports suggested ECB President Mario Draghi will not be speaking on monetary policy changes of any kind as the regulator awaits elections in Germany.
On the data front this morning, the German second-quarter gross domestic product came in at an annual rate of 0.8 percent and a quarterly rate of 0.6 percent, both matching expected values. The lfo business climate index for August rose to 115.9, above an estimated 115.5.
On Thursday, the German benchmark ended 0.05 higher in Frankfurt, with insurance, utilities and basic resources pushing to the upside, while media, software and consumer & cyclical weighed on the index.
The best performers of the session were Daimler, which added 1.45 percent to 61.650, Fresenius rising 1.12 percent to 71.440 and BMW up 0.86 percent to close at 79.790.
The worst performers of the session were Continental easing 0.80 percent to 192.80, Prosiebensat 1 Media down 0.79 percent at 32.550 and SAP falling 0.78 percent to 88.580.
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