Before important US economic data, not much happened in the Dax on Wednesday. After reaching its high since the beginning of June the day before, the leading German index was virtually stationary at around noon at 14,415.36 points. Since its low for the year almost two months ago, it has risen by more than a fifth and is now consolidating at a high level.
The MDax of medium-sized stocks fell by 0.35 percent to 25,530.96 points in the middle of the week. The EuroStoxx 50, the leading barometer for the eurozone, gained 0.1 percent.
With the “Thanksgiving” holiday on Thursday in the US, the midweek data calendar is particularly busy. Purchasing manager indices from Germany surprised positively in the morning. In the afternoon, other important data from the USA are on the agenda, including purchasing manager indices and the consumer climate determined by the University of Michigan.
In the evening, market participants are waiting for the minutes of the most recent Fed meeting and are hoping for further indications of the extent of the future rate hikes. After hefty interest rate hikes over the course of the year, the Fed is expected to ease up on its inflationary wars soon. Instead of the 0.75 percentage points that has been usual in recent months, an increase of 0.50 points is currently expected for the next Fed meeting in December.
