Before the interest rate decision by the US Federal Reserve, the Dax continued its friendly November start on Wednesday with moderate price gains. The leading German index is heading for the eighth positive trading day in a row.
At the start it increased by 0.31 percent to 13,380.18 points and thus rose towards the previous day’s high of 13,444 points. At 24,018.63 points, the MDax was roughly the same as the previous day, while the Eurozone index EuroStoxx gained 0.6 percent.
“Investors remain courageous,” emphasized analyst Thomas Altmann from asset manager QC Partners with a view to the Dax. Above all, he rated it positively that even after the increase of more than ten percent since the end of September, hardly any profits are still being taken. According to Altmann, however, it would only be the “great liberation” if the Dax exceeded its 200-day average. This long-term indicator runs at 13,657 points.
All eyes are on Wednesday’s interest rate decision by the Fed, which is only due after the market close in Germany. With another rate hike of 0.75 percentage points considered a foregone conclusion, statements on the outlook are likely to be crucial. “Because many on the market hope and expect that the Fed will slow down from the next interest rate meeting in December. If these hopes are disappointed, there could be new turbulence on the stock exchanges,” warned Altmann.
