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DAX Gains With Focus On Fed Meeting
(RTTNews) - German stocks were modestly higher on Friday, heading into next week's FOMC meeting, where a 25-bps interest-rate cut is expected.
The euro edge higher after ECB policymakers signaled no further rate cuts in the immediate future.
ECB official Joachim Nagel stated that inflation in the euro zone is going in the right direction and the inflation target is likely to be reached at the end of next year.
The benchmark DAX was up 72 points, or 0.4 percent, at 18,590 after rallying 1 percent in the previous session.
Commerzbank shares rallied 2.2 percent. The head of Germany's central bank said that authorities would take a "very close look" at UniCredit's overtures to potentially buy the German bank.
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Asian Shares Extend Losses In Thin Holiday Trade
Asian stocks extended losses in thin trade on Friday, with markets in mainland China, Hong Kong and Taiwan closed for Tomb Sweeping Day holiday.
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Indian Rupee Rises To Near 4-month High Amid Trump's Reciprocal Tariffs
The Indian rupee strengthened against the U.S. dollar in the early European session on Friday, as a weakening dollar, plunging oil prices and expectations for accelerated Federal Reserve interest-rate cuts supported the INR.
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German Factory Orders Stagnate In February
Germany factory orders stagnated unexpectedly in February even though US importers brought forward imports to beat the impending tariffs. New orders in the manufacturing sector remained unchanged in February, reversing a 5.5 percent drop in January, Destatis reported Friday. Orders were forecast to grow 3.4 percent. Excluding large orders, new orders were 0.2 percent lower than in the previou
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European Shares Likely To Extend Losses On Growth Concerns
European stocks look set to extend losses from the previous session on Friday amid concerns that a trade war could fuel inflation and dent global economic growth.
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Antipodean Currencies Slide Amid Risk-off Mood; Safe-haven Swiss Franc Rises
The antipodean currencies such as the Australia and the New Zealand dollars weakened against their major currencies in the Asian session on Friday amid increased risk-off mood by the investors, with some of the major markets being closed, as traders continue to assess the impact of the steeper-than-expected reciprocal tariffs imposed by U.S. President Donald Trump on U.S. trade partners.
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Swiss Franc Rises Against Majors
The Swiss franc strengthened against other major currencies in the Asian session on Friday.
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NZ Dollar Slides Against Most Majors
The New Zealand dollar weakened against most major currencies in the Asian session on Friday.
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Australian Dollar Falls Against Majors
The Australian dollar weakened against other major currencies in the Asian session on Friday.
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