The DAX slipped into the negatives after a cautious start that afternoon. By roughly 12:30 p.m., the index stood at about 24,880 points, 0.1 % below yesterday’s closing level. Only Infineon managed to defy the trend, remaining near the top of the list, while the majority of the 40 constituents moved into negative territory.
Market analyst Andreas Lipkow said, “Participants are still in a holding pattern and are awaiting today’s U.S. Federal Reserve press conference. Jerome Powell’s remarks continue to have the potential to shift financial market levels in a lasting way. There are many unanswered questions that investors hope will be addressed today”.
The euro weakened against the dollar on Wednesday afternoon. One euro cost 1.1973 USD, while one USD traded for 0.8352 EUR.
Gold benefited noticeably, with prices rising to US $5,257 per fine ounce (+1.6 %) in the afternoon, equivalent to €141.16 per gram.
Brent crude, meanwhile, slipped slightly. At about 12:00 p.m. German time, a barrel of North Sea‑grade Brent was priced at US $67.46, down 11 cents or 0.2 % from the previous day’s close.