The German market index, the Dax, opened calmly on Movement Day holiday, starting the trading day favorably. At around 9:30 AM, the main index was calculated at approximately 24,395 points, marking a rise of 1.1 percent compared to the previous day’s closing level.
Market analyst Andreas Lipkow noted that trading in Asia had been quiet and unremarkable. He highlighted that the main focus of global trading centers was the meeting between US President Trump and Chinese President Xi Jinping. Lipkow observed that the geopolitical situation has changed drastically in recent years, and the recent conflict in Iran has become a major international point of contention, making it previously uncertain whether the two leaders would encounter significant disagreements.
He projected that trading in Germany would likely remain in stable patterns, only influenced by economic impulses coming out of the US later in the afternoon. Specifically, Lipkow pointed out that investors are keeping a close eye on US labor market data and import prices. Additionally, US import prices and retail sales are expected to attract significant interest.
Regarding global assets, the European community currency began the week slightly weaker: the euro cost $1.1711, meaning that the dollar was available for 0.8539 euros. Gold prices, however, managed to gain, rising by 0.4 percent in the morning, with a fine ounce fetching $4,706, equating to 129.19 euros per gram. Oil prices showed a modest increase as well; a barrel of Brent crude oil from the North Sea cost $106.10 at 9 AM German time, representing a gain of 44 cents, or 0.4 percent, compared to the previous day’s close.