Our stock market experts take a look at the coming week. Despite the dazzling condition of the leading index Dax, there are still great uncertainties on the stock exchanges. Inflation is more persistent than it might appear.
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LBBW’s stock market experts put it most aptly: “The bank shock in March was followed by a relief rally.” The stock markets also benefited from the downward trend in inflation figures. However, the situation remains contradictory: Despite all the current nervousness about increased crude oil prices or the wobbling real estate industry, the leading German index Dax reached its highest level since January 2022 last week before the Easter calm spread.
The main focus is on the USA
It doesn’t seem likely that the big rush will break out again immediately after the holidays. The focus is now primarily on the USA and there, in view of the latest turbulence in the banking sector, on the forthcoming figures from US credit institutions. Large banks present their quarterly figures. Is the banking crisis already over? Analysts disagree on that.
The most important publication this week is likely to be the US inflation figures for March, scheduled for Wednesday – with signals for a further downward trend to below 6.0 percent. Relaxation at this point too? “Below the surface, things continue to simmer,” warn the Commerzbank experts. In fact, the more meaningful core rate, which discounts volatile energy and food prices, is likely to have risen. In this respect, inflationary pressure will remain high. Two more rate hikes by the US Federal Reserve, each of 25 basis points, are expected.
Only a few impulses are likely to come from the German stock markets this week. Although the dividend season in particular points to stable prices, a continuation of the pre-Easter high is not necessarily to be expected.