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Investors are waiting for impulses

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Investors are waiting for impulses

Our stock market experts take a look at the new week: The Dax is moving sideways. Economic data in particular play a role in the stock market week.


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How is the Dax developing? The German leading index was in a sideways movement in the past week. After the record in mid-May, it lost some feathers over the course of the month, only to climb back above the important 16,000 point mark at the end of the week.

There was a boost because the US debt dispute and thus an impending insolvency was settled. Nevertheless, the upward trend that has been ongoing since October seems to have stopped for the time being. According to LBBW Research, investors are now wondering how the currency watchdogs will react “on the inflation front”: It is not expected that the US Federal Reserve will soon raise key interest rates – in contrast to the European Central Bank (ECB). Here one expects “two more key rate hikes of 25 basis points each,” it says. Even the recent fall in inflation in the euro zone should not prevent the ECB from further interest rate hikes. However, declining inflation is supporting private consumption, emphasizes Jörg Krämer, chief economist at Commerzbank. Nevertheless, the recession is likely to last longer – “but I don’t think it will be deep,” says Krämer. German companies are very resilient, especially in the medium-sized sector.

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The reports in this stock exchange week are rather thin – impetus is most likely to be expected from the economic data. On Tuesday, the focus will be on the order situation in German industry, which is in a phase of weakness, especially in the automotive and mechanical engineering sectors. Industrial production is on Wednesday.

The current industrial orders in the USA will already be announced this Monday. In China, the economic recovery has lost momentum after the corona restrictions were lifted, which is also reflected in the consumer prices that will be presented on Friday. Here, Deka expects an inflation rate of just 0.3 percent.

Thursday is a holiday in some federal states with Corpus Christi – trading is still taking place on the stock exchanges.

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