The DAX continued to trade without a clear trend on Tuesday after a cautious start to the session. By around 12:30 p.m. local time, the index was measured at roughly 24,930 points, just below the closing level from the previous day.
The top of the performance list featured Fresenius, Commerzbank, and Deutsche Telekom, while shares of automotive manufacturers remained in the red segment. Market analyst Andreas Lipkow said that “participants appear to hold back ahead of today’s macro and corporate data releases”. He added that the forthcoming U.S. Federal Reserve press conference, and any pause by Chair Jerome Powell, will likely be used to interpret future U.S. monetary policy. This creates a more positive sentiment for German stocks amid a nervous market environment, according to Lipkow.
The euro strengthened slightly in the afternoon: one euro bought 1.1890 U.S. dollars, and one dollar could be exchanged for 0.8410 euros.
Gold saw a notable gain. By midafternoon the price had risen by 1.5 % to $5,087 per troy ounce, equivalent to €137.55 per gram. Meanwhile, the price of Brent crude increased to $65.82 per barrel-23 cents, or 0.4 % higher-over the previous day’s close.