30 am, a 0.5% increase from the previous day’s close.
The market is currently driven by the United States, according to Thomas Altmann of QC Partners, with the Trump administration’s stimulus package now taking center stage. After the House of Representatives’ approval, the Senate’s approval is expected to be a formality. The key question now is how significantly and quickly this package will increase the United States’ debt and whether the recent interest rate rise has already fully factored in the additional debt or if investors are still demanding higher risk premiums.
The Dax index’s winning streak was broken yesterday, but Altmann considers this a healthy correction, as the previous day was only the fourth negative day since Easter. The trading volume was also below average yesterday, indicating that investors are waiting for a larger correction to enter the market.
The trading volume for this week has been consistently below the average of the past year and five years, suggesting a low level of buying appetite. Without new positive news, this appetite is unlikely to increase significantly without a decline in prices, Altmann added.
The euro was stronger against the US dollar on Friday morning, with one euro exchanging for approximately 1.1330 US dollars and one US dollar for 0.8826 euros.