30 am, a 0.04% decline from the previous day’s close. Airbus, MTU and Heidelberg Materials led the list of top performers, while Beiersdorf, Merck and Sartorius lagged behind.
Market participants are awaiting the Federal Reserve’s latest decision on interest rates, scheduled for the evening. Thomas Altmann of QC Partners believes the Fed will maintain its current interest rates, but notes that the new inflation projections will be closely watched. “This is not only the first inflation projection since the start of the conflict in the Middle East, but also the first since the introduction of Trump’s tariffs on Liberation Day” he said.
The Fed’s decision will likely take into account a range of factors, including the ongoing conflict and the impact of tariffs on inflation. In March, the central bank increased its inflation projection and expects to reach its 2% target in 2027. The Fed will also release its new interest rate projections, which have been the subject of much speculation in recent weeks.
The Dax index has struggled to find its footing in the current environment, according to Altmann, with all major markets in Europe and the US reacting similarly to the developments in the Middle East. “The majority of other data is being overshadowed by this development” he said.
Meanwhile, the euro strengthened against the US dollar, with one euro equivalent to 1.1515 US dollars and the dollar trading at 0.8684 euros. The Brent crude oil price, however, fell, with a barrel of the North Sea variety trading at 76.16 US dollars at 9 am German time, a decline of 29 cents or 0.4% from the previous day’s close.