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DAX Edges Higher Ahead Of U.S. CPI Data
(RTTNews) - The DAX benchmark of the Frankfurt bourse edged higher on Monday, amidst the Fed's hints of a pause and the ECB's hawkish stance. Wall Street's rally on Friday supported sentiment. Markets continue to focus on corporate results as well as await the U.S. CPI readings on Wednesday and the Bank of England's interest rate decision due on Thursday.
The forty-scrip DAX index is currently trading at 15,982.25, having gained 21 points or 0.13 percent on an overnight basis. The day's trading has been within the range of 15,944.75 and 15,985.75.
Less than half of the scrips in the 40-scrip index are trading in overnight negative territory.
BMW, Commerzbank and SAP have gained more than 1 percent.
Munchener Ruck, Porsche and Vonovia have declined more than 2 percent.
The Fed's hints of a potential pause in rate hikes dragged down the Dollar Index, a measure of the Dollar's strength against a basket of 6 currencies around 0.06 percent to 101.15. The Dollar's decline and the ECB's refusal to hint of a pause in rate hikes lifted the EUR/USD pair 0.24 percent higher to 1.1043.
The ten-year bond yield has increased 0.96 percent to 2.3150%, versus 2.29% at the previous close.
Data released earlier in the day showed Germany's Industrial Production in the month of March at -3.4 percent, versus 2 percent in the previous month and expectations of -1.3 percent.
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