The Dax also missed its recent record high on Friday. The German leading index approached its peak level by 36 points, but ultimately only closed 0.32 percent higher at 16,961.39 points. The record high from mid-December is around 17,003 points. On a weekly basis, the Dax is up by around 2.5 percent. Before the weekend, the MDax rose by 0.38 percent to 26,174.57 points.
The previous day, following the expected interest rate decision by the European Central Bank (ECB), the Dax had made up its losses and closed slightly higher. “ECB President Lagarde softened the central bankers’ previous resistance to early interest rate cuts a little,” commented Ulrich Kater, chief economist at Dekabank.
If the next inflation figures are not significantly disappointing, a first interest rate cut is likely in June. First of all, the focus is on the US Federal Reserve’s interest rate decision next week.
The so-called PCE price deflator in the USA was in focus on Friday. Price inflation, measured by the core component of the PCE price index, which the Fed pays particular attention to, fell somewhat more sharply than expected. This fueled interest rate hopes on Wall Street, and the Dow Jones Industrial climbed to another record high.
