DAX Dips On Profit Taking After Recent Gains
(RTTNews) - German stocks slipped into the red on Friday as caution set in after recent strong gains on optimism over signs the Federal Reserve might slow down the pace of rate hikes.
Investors also expect smaller rate hikes by the European Central Bank amid lingering worries of a recession in the euro zone.
The benchmark DAX slipped 0.1 percent to 14,469 after rising 0.7 percent in the previous session.
Banks were subdued, with Deutsche Bank falling nearly 1 percent. Tech stocks were rising, with Infineon rising half a percent.
The euro extended gains against the dollar for a third straight session, hitting a six-month high and on track for a second weekly gain in a row.
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Yen Rebounds Against Majors
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Australian Dollar Rises Against Majors
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European Economic News Preview: Germany Inflation Data Due
Flash inflation data from Germany and economic confidence survey results from the euro area are the top economic news due on Monday. At 2.00 am ET, flash GDP and retail sales figures are due from Sweden. The economy is forecast to shrink 0.1 percent in the first quarter.
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