The DAX is showing strong movement in both directions, but has only managed slight gains. Currently, the DAX is at 11,591, up 0.20% on the day. In economic news, German CPI rebounded in February with a gain of 0.4%, after a decline of 0.5% a month earlier. On Friday, the eurozone releases consumer inflation data.
Another vote, another defeat for Prime Minister May in parliament. On Wednesday, lawmakers voted to remove the option of a no-deal Brexit, but it should be noted that this vote is not binding on the government. With parliament set to vote on Thursday on a request to extend Article 50, market focus will be on Brussels as well as London. Will the E.U. agree to an extension? If so, will there be any strings attached? The DAX lost ground in the Asian session, but has since recovered. Traders should be prepared for further volatility from European stock markets after the parliament vote on Thursday.
The eurozone manufacturing sector has struggled, but there was some positive news on Wednesday, as the reading of 1.4% was the strongest gain since August 2017. Germany, the largest economy in the eurozone, has been posting weak manufacturing data. Industrial production fell 0.8% in January, missing expectations. The indicator managed only two gains in the second half of 2018 and has started 2019 with a decline. Last week, factory orders plunged 2.6%, marking a third successive decline. The U.S-China trade war has dampened global growth, which has reduced the demand for German exports and weighed heavily on manufacturing activity.
Markets turn to the Eastern Front
Aussie softens as China production slows
Economic Calendar
Thursday (March 14)
-
3:00 German Final CPI. Estimate 0.5%. Actual 0.4%
Friday (March 15)
-
3:00 German WPI. Estimate 0.3%
-
6:00 Eurozone Final CPI. Estimate 1.5%
-
6:00 Eurozone Final Core CPI. Estimate 1.0%
Previous Close: 11,572 Open: 11,491 Low: 11,486 High: 11,636 Close: 11,591
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.
Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Recommended Content
Editors’ Picks
AUD/USD stands firm above 0.6500 with markets bracing for Aussie PPI, US inflation
The Aussie Dollar begins Friday’s Asian session on the right foot against the Greenback after posting gains of 0.33% on Thursday. The AUD/USD advance was sponsored by a United States report showing the economy is growing below estimates while inflation picked up. The pair traded at 0.6518.
EUR/USD mired near 1.0730 after choppy Thursday market session
EUR/USD whipsawed somewhat on Thursday, and the pair is heading into Friday's early session near 1.0730 after a back-and-forth session and complicated US data that vexed rate cut hopes.
Gold soars as US economic woes and inflation fears grip investors
Gold prices advanced modestly during Thursday’s North American session, gaining more than 0.5% following the release of crucial economic data from the United States. GDP figures for the first quarter of 2024 missed estimates, increasing speculation that the US Fed could lower borrowing costs.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
Bank of Japan expected to keep interest rates on hold after landmark hike
The Bank of Japan is set to leave its short-term rate target unchanged in the range between 0% and 0.1% on Friday, following the conclusion of its two-day monetary policy review meeting for April. The BoJ will announce its decision on Friday at around 3:00 GMT.