DAX rally continues as Trump suspends auto tariffs

May 16 11:05 2019 Print This Article

The DAX started the week with sharp losses, but has rallied and is on its way to a third straight winning session. Currently, the DAX is at 12,189, up 0.74%. In economic news, there are no major German or eurozone events. The eurozone trade surplus narrowed to EUR 17.9 billion in March, down from 19.5 billion a month earlier. On Wednesday, the eurozone releases consumer spending reports.

Global equity markets continue to show strong movement, in response to breaking developments in the global trade war. The DAX plunged 1.5% on Monday, as China retaliated against the U.S. and slapped tariffs on $60 billion in U.S. products. However, the blue-chip DAX has been quick to recover, jumping 2.7% since Monday. Investors have regained risk appetite, as the trade talks between the U.S. and China have not been derailed, even with the latest tariff tussle. Investors had been worried that Trump might target European and Japanese vehicles with new tariffs, and this had triggered sharp losses for German automakers listed on the DAX, including BMW, Daimler and Volkswagen. There was relief on Thursday, after President Trump announced a 6-month delay on any car tariffs.

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

Daily Markets Broadcast 2019-08-21

Daily Markets Broadcast 2019-08-21 Stocks rebound is short-lived The Wall Street rebound came to a halt yesterday after a three-day rally as lower yields pressured the financial sector. European shares slid after Italian PM Conte announced his resignation. Hong Kong faces transport disruptions tod ...

TFMR Podcast - Tuesday, August 20

With TF 9 Comments | 5 Likes Tuesday was a much better day than Monday and it even yielded a report of another Banker conviction for manipulating the prices of Comex gold and silver. All in all, a great day! But that manipulation news is so humdrum now that it's not even worth discussing. If y ...

US Dollar Retreats Awaiting FOMC Minutes

The US dollar fell across the board against major pairs on Tuesday ahead of the central bank summit hosted by the Fed. The U.S. Federal Reserve will be releasing the minutes from the July Federal Open Market Committee (FOMC) meeting where it cut the benchmark rate by 25 basis points. The minutes wi ...

The seeds of fiscal stimulus

Prepared by Jeff Halley, Senior market Analyst   The next round of stimulus Long-time readers will know, that I have argued that global central banks are reaching the limits monetary policy stimulus. Looking around the developed world, only the United States has achieved anything like a post-GFC n ...

BAM Renews Real NCIB

Brookfield Asset Management Inc. has announced: it has received approval from the Toronto Stock Exchange (“TSX”) for its proposed normal course issuer bid to purchase up to 10% of the public float of each series of the company’s outstanding Class A Preference Shares that are listed on the TSX ...

The Outlook For COMEX Silver Improves - Craig Hemke (20/08/2019)

August 20, 2019 While we've been on the record since January in predicting that 2019 would see the best annualized gains for the precious metals since 2010, we've also been concerned that COMEX gold might pull away from COMEX silver in the short term. Now? Maybe not so much. Two posts from earlie ...