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US inflation data is causing a setback on the German stock market
US consumer prices are slowing down the Dax - Find out how inflation data has influenced the markets and what this means for monetary policy. Anything in the WORLD!
US inflation data is causing a setback on the German stock market
The US inflation data for March had a negative impact on the German stock market. Inflation in the US once again exceeded expectations and makes the possibility of a rate cut by the US Federal Reserve in June unlikely. According to ING chief economist James Knightley, an opportunity to ease US monetary policy will not arise until September at the earliest.
The Dax gave up its early gains in the afternoon, temporarily slipped into the loss zone and closed the day with an increase of 0.11 percent at 18,097.30 points. In contrast, the MDax of medium-sized stock market stocks fell by 0.19 percent to 26,939.96 points. The European indices mostly closed close to the previous day's close, while the US stock market performed weakly.
In March, price increases in the USA accelerated unexpectedly significantly, with consumer prices increasing by 3.5 percent compared to the previous year. The core inflation rate remained at a high level of 3.8 percent. Experts at Helaba commented that the higher-than-expected monthly price increases raise doubts about the US Federal Reserve's expected interest rate reduction path.
Investors on the stock exchanges are now turning their attention to the European Central Bank (ECB), which will soon decide on the key interest rate in the euro region. The ECB is still expected to raise interest rates in June. The upcoming reporting season could also provide new optimism.