30 AM local time, the index was calculated at approximately 23,625 points, representing a slight increase of 0 Around 9:30 AM local time, the index was calculated at approximately 23,625 points, representing a slight increase of 01 percent
Market analysts are observing a tempering of recent upward momentum Jochen Stanzl, Chief Market Analyst at CMC Markets, noted that while buying dips earlier in August proved effective, a similar quick rebound failed to materialize yesterday, leaving the DAX in a stabilization phase Attention is now heavily focused on upcoming US employment data scheduled for release on Friday and the associated expectations of potential interest rate adjustments A breach of the August low of around 23,400 points could signal a double top formation, potentially leading to a further decline towards the 22,000 level
Globally, rising sovereign debt is emerging as a dominant theme among investors However, successful bond auctions are providing temporary reassurance A recent Japanese bond auction went smoothly, calming anxieties and pausing the recent increase in yields Investors are now looking to the US Federal Reserve for support, currently anticipating five interest rate cuts over the next twelve months Analysts caution that such expectations carry risk; stronger-than-expected employment data or persistent inflation in the coming week could preclude the Fed from implementing such aggressive easing
The recent shift in the composition of the DAX – with Porsche’s departure and the inclusion of Gea and Scout24 – reflects structural changes within German industry, according to Stanzl He views this as a positive development, characterized by the replacement of underperforming stocks with stronger contenders
On the currency markets, the Euro showed slight weakness early Thursday, trading at 11646 US dollars, while the dollar was valued at 08587 Euros