European markets exhibited a cautious start to the trading day Thursday, with the Dax opening largely unchanged. Around 9:30 AM local time, the index was calculated at approximately 24,290 points, representing a gain of around 0.1 percent from the previous day’s closing level. Leading the gains were Rheinmetall, MTU and Siemens Energy, while Symrise, Adidas and Beiersdorf experienced downward pressure.
Market attention has shifted to Jackson Hole, Wyoming, where the annual gathering of central bankers commenced today. A primary focus for investors is the upcoming speech by Federal Reserve Chair Jerome Powell, scheduled for Friday afternoon. Many participants are hoping for signals regarding potential interest rate cuts in September.
Analysts note a period of consolidation for the Dax. Trading volume so far this week has been significantly below average, suggesting a degree of uncertainty and hesitancy among investors. The range between weekly highs and lows has been limited to just 224 points, representing less than one percent over three trading days-indicating a lack of clear momentum for the German benchmark index.
In currency markets, the Euro experienced a slight weakening Thursday morning, trading at 1.1642 US dollars, while the dollar was worth 0.8590 Euros.
Commodity markets saw an increase in oil prices, with Brent crude trading at approximately 67.44 US dollars per barrel around 9:00 AM German time-a gain of 60 cents, or 0.9 percent, from the previous close.