DAX stagnates after US interest rate decision - impulses expected from reporting season

DAX stagnates after US interest rate decision - impulses expected from reporting season

The US Federal Reserve's interest rate decision dampened investors' appetite for risk, resulting in the DAX starting the trading day almost unchanged. The current reporting season could potentially provide impetus to influence developments. After the holiday, the DAX moved along its Tuesday level and is currently around 17,933 points. The geopolitical unrest in the Middle East and the back and forth in US interest rate policy have halted the DAX's record high for the time being. The index lost three percent in April despite peaking at 18,567 points.

Experts such as capital market strategist Jürgen Molnar from Robomarkets see strong resistance in the DAX at 18,200 points and a downward hedge at 17,900 points. A negative factor is the current US interest rate decision, in which the Federal Reserve avoided raising interest rates in view of the persistently high inflation in the USA and kept the key interest rate in the range of 5.25 to 5.50 percent. The US Federal Reserve emphasized that a rate hike will only be considered once confidence in the inflation rate approaching the Fed target is restored.

While some experts are ruling out a rate cut in June and expect a possible easing of monetary policy only in the second half of the year or not at all, the OECD has again lowered its forecast for economic growth in Germany for the current year. The OECD economic experts now only expect an increase of 0.2 percent, while stronger growth and an economic increase of 1.1 percent are forecast for the coming year.

The US stock markets showed an inconsistent development after the Fed interest rate decision, with the Dow Jones index rising slightly, while the Nasdaq and the S&P 500 fell. In Tokyo, the Nikkei index closed lighter due to a sudden appreciation of the yen. The Shanghai stock exchange remained closed. Oil prices have recovered somewhat after a decline, but remain near their lows since mid-March. Bayer achieved legal success in the USA in connection with the Monsanto legacy, while Hugo Boss and Novo Nordisk recorded positive developments in sales and profits. Shell reported a rise in profits, particularly in its gas business, while eBay gave below-expected revenue forecast. Qualcomm reported revenue growth in its most recent quarter.