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Dangerous terrain - DAX with losses: ECB boss Lagarde under pressure
The DAX is losing ground, investors are looking excitedly at Christine Lagarde. ECB interest rate decision in focus. Current market analyses.
Dangerous terrain - DAX with losses: ECB boss Lagarde under pressure
The DAX has extended its losses and is now in dangerous territory, with investors hoping ECB chief Lagarde will deliver to avoid trouble in the markets. Before the ECB's interest rate decision, investors showed nerves and the DAX recorded initial price gains, which, however, turned into losses. The slide below the 18,039 point mark was particularly significant as this represents key support in the DAX.
Investors' hopes of support from Wall Street were dashed as Dow Jones futures fell in the red. After surprisingly high inflation in the USA, investors had given up their expectations that the Fed would cut interest rates in June. The responsibility for stabilizing European stock markets now lies with ECB President Christine Lagarde.
Analysts emphasize that inflation in the euro zone is falling positively, which could give Lagarde the opportunity to cut interest rates before the US. However, history shows that the ECB usually follows the Fed when it comes to interest rate cuts. The current developments have investors waiting eagerly for upcoming information on the expected interest rate turnaround in June.
In other company news, Telekom shares are posting losses while Volkswagen is planning major investments in China. European aircraft manufacturer Airbus is hiring additional staff to increase production rates. An unfortunate situation occurred at Siemens Energy subsidiary Gamesa when a wind turbine in Norway lost a rotor blade. Mercedes-Benz boss Ola Källenius leads the payroll of active managers in the DAX.
All in all, markets are excited about the ECB's decisions and hope that Lagarde will send positive signals to reassure investors.