Nearly unchanged and below the technical resistance of 14,440 points is the DAX out of Wednesday business. A narrow trading margin and relatively low sales determined business mid-week. Investors held back – and looked to the United States. On Wall Street, the leading indices had posted slight gains. One reason may have been the content of the Fed minutes, because the US Federal Reserve is increasingly signaling that it is switching to a less aggressive line when it comes to interest rate hikes. A “clear majority” of policymakers think it likely to ease the pace of hikes soon, according to minutes of the latest interest rate meeting earlier in the month released on Wednesday. This should make it easier for the central bank to assess its progress on the way to full employment and price stability. This approach is intended to take account of the fact that it is uncertain how long it will take for the interest rate hikes to take effect and how much of an impact they will have on the economy and inflation.
In early November, the Fed raised interest rates by 0.75 percentage points for the fourth time in a row. It is currently in a range between 3.75 and 4.00 percent. Meanwhile, several US central bankers have signaled that they might favor smaller steps. On the futures markets, the chance of a smaller rate hike of 0.50 percentage points was now estimated at 79 percent at the mid-December meeting.
However, the DAX is currently valued at around 14,470 points and is therefore both firmer and above the technical resistance of the chart, which is around 14,440 points. Nevertheless: The comparatively thin trading in the middle of the week should be followed by a similar business today. The reason: Wall Street remains closed because of the US Thanksgiving holiday. In this country, the eyes of investors should primarily be on the data of the Ifo business climate index lie. The index shows the mood in the executive suites.
Most recently, the expectations of companies had darkened in view of supply chain problems and increases in energy prices. “The November figures will show whether the actual business situation is now also deteriorating and whether the German economy is already on the way to a recession,” summarizes Commerzbank expert Ralph Solveen. However, a clear signal is not to be expected: while the overall index is likely to fall slightly, expectations may even have increased slightly given the decreasing risk of a gas shortage.
In addition, the industry association ACEA provides fresh commercial vehicle sales figures and Remy Cointreau presents the detailed quarterly results. The Bundesbank presents its Financial Stability Report 2022. France has figures on the business climate and Turkey has the results of the monetary policy meeting of the Central Bank Council.
