DAX Drops As Bets Of A Dovish Fed Dim

RTTNews | 814 days ago
DAX Drops As Bets Of A Dovish Fed Dim

(RTTNews) - The DAX benchmark of the Frankfurt bourse moved lower on Wednesday as renewed fears of Fed's tightening dampened sentiment. Hawkish comments from European Central Bank officials and the higher-than-expected inflation readings from the U.K dashed hopes of a dovish pivot by central banks.

The forty-scrip DAX index is currently trading at 15,853.55, down 0.18 percent on an overnight basis. The day's trading has been within the range of 15,833.55 and 15,876.05.

Only 13 scrips in the 40-scrip index are trading in overnight positive territory.

Munchener Ruck and Hannover Ruck have gained more than 1 percent.

Zalando dropped 2.7 percent. Vonovia, Daimler Truck Holding, Sartorius, Siemens Energy, Continental, Volkswagen and Infineon Technologies have all declined more than 1 percent.

Expectations of a further tightening in monetary policy by the Fed caused the Dollar Index to rise by 0.18 percent to 101.93, dragging the EUR/USD pair 0.15 percent lower to 1.0955. The euro however found support from the ECB's hawkish stance.

The ten-year bond yield has increased 2.06 percent to 2.5210%, versus 2.47% at the previous close.

read more
Bay Street Likely To Open Lower

Bay Street Likely To Open Lower

Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.
RTTNews | 3h 43min ago
Pound Falls As U.K. Economy Contracts For Second Straight Month

Pound Falls As U.K. Economy Contracts For Second Straight Month

The British pound weakened against other major currencies in the European session on Friday, as the UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in achieving her self-imposed borrowing rules.
RTTNews | 3h 50min ago
Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Friday.
RTTNews | 4h 13min ago
Yen Retreats Amid US-Japan Trade Uncertainty

Yen Retreats Amid US-Japan Trade Uncertainty

The Japanese yen retreated from early highs against other major currencies in the European session on Friday, amid concerns on US-Japan relations in light of Trump's placement of a 25 percent tariff on Japanese exports this week, which will go into force on August 1.
RTTNews | 5h 2min ago
UK Economy Contracts For Second Straight Month

UK Economy Contracts For Second Straight Month

The UK economy shrank for the second consecutive month in May, adding challenges to Chancellor Rachel Reeves in meeting her self-imposed borrowing rules. Gross domestic product fell unexpectedly by 0.1 percent in May, following a 0.3 percent drop in April, data from the Office for National Statistics revealed on Friday.
RTTNews | 5h 32min ago
CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

CAC 40 Down More Than 1% As Trade War Concerns Hurt Sentiment

French stocks are notably lower on Friday, weighed down by losses in automobile and luxury sectors. The mood in the market is a bit bearish, in line with other major markets in Europe, amid renewed worries about tariffs.
RTTNews | 5h 39min ago