What’s next? – DAX 15.11.17

The German stock index DAX extended losses on Wednesday despite upbeat economic data, as traders kept an eye on US inflation later in the day, as well as other reports from the EU.

Germany’s consumer price index was unchanged for October, according to data released on Tuesday. The third-quarter gross domestic product increased by 0.8 percent in the third quarter of this year, outperforming a forecasted 0.6 percent and a similar previous month result.

In other news, Germany’s ZEW current conditions for November came in at 88.8, above expectations for a 88.0 reading. Economic sentiment was down to 18.7 from a prior 20.0.

The German benchmark posted a 0.31 percent loss on Tuesday, with technology, media and retail pushing upwards, while utilities, consumer and basic resources sectors dragging it down.

The best performers of the session were Infineon Technologies, which added 2.66 percent to 23.930, Deutsche Lufthansa rising 1.97 percent to 27.44 and Adidas up 1.93 percent to 187.45.

The worst performers of the session were RWE, which dropped 5.56 percent to 21.055, Henkel & Co falling 4.26 percent to 115.80 and Thyssenkrupp down 1.19 percent to 21.665.

Ahead in the day, attention will be directed to another batch of economic reports in Europe and the US, starting with the UK claimant count, unemployment rate and average earnings data at 09:30 GMT and the EU trade balance for September scheduled at 10:00 GMT.

In the US, focus will be inflation. The consumer price index for October is due for release at 13:30 GMT, with a 0.1 percent month-on-month build seen.

The NY Empire State manufacturing index for Nov is also set for that time, as well as retail sales for Oct. Business inventories for Sep are up at 15:00 GMT, with a forecasted rise of 0.1 percent.

Fort Financial Services