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What’s next? – DAX 13.03.18

Mar 13 2018, 02:01 PM (+06) | Fortfs.com

The DAX futures were 0.57 percent higher at 12,398 in Asian hours on Tuesday, with investors looking ahead to fresh economic data from Germany and the European Union.

 

The ZEW economic sentiment index for March in Germany and in the Eurozone will be released as of 10:00 GMT. A meeting of EU Finance Ministers is also scheduled this morning.

 

These reports are unlikely to have a major impact on the DAX. European investors will also be monitoring US hours later on, as key inflation data is awaited.

 

The US consumer price index for February will be out at 12:30 GMT, with a 0.2 percent build seen from a prior month 0.5 percent increase.

 

According to Federal Reserve funds tracked by CME Group’s FedWatch tool showed expectations for a 25 basis points interest rate hike in March are currently at 88.8 percent.

 

Meanwhile, the European Central Bank keeps its solid posture on monetary policy stimulus, reassuring the ongoing bond buying program is still necessary to support the regional economy.

 

“We are convinced that disputes should be discussed and resolved in a multilateral framework and unilateral decisions are dangerous,” Draghi said. The ECB chief also wondered aloud, “what’s going to be the response of the exchange rate?”

 

The German benchmark ended Monday in Frankfurt at 12,418.39, adding 71.71 points or 0.58 percent, with Utilities, Chemicals and Transportation & Logistics sectors pushing upwards.

 

The best performers of the session were RWE, which jumped 7.82 percent or 1.407 points to 19.402. E.ON rose 5.47 percent or 0.462 points to 8.915 and Linde gained 3.71 percent or 6.65 points to close the day at 185.90.

 

The worst performers of the session were Prosiebensat 1 Media, which dropped 2.04 percent or 0.590 points to 28.280. Adidas eased 1.21 percent or 2.10 points to 171.60 and Thyssenkrupp was down 0.60 percent or 0.130 points to 21.530.

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