Your Broker for worldwide trading

Week in review DAX and Wall Street: ECB pauses on interest rates - reporting season moves

The past few trading days have been dominated by developments in the trade dispute, the ECB central bank meeting and the ongoing reporting season. On balance, investors are likely to continue to hope for a last-minute agreement in the tariff conflict between the US and the EU.
In addition, the Fed meeting scheduled for next Wednesday could soon cast its shadow.

DAX

Source: TradingView

Customs deal between USA and Japan euphorizes investors - hopes for "last-minute deal" between USA and EU

The deal announced in the tariff dispute between the USA and Japan caused a stir in the first half of the week. According to Trump, "reciprocal" tariffs of 15 percent have been agreed. In addition, Japan would invest 550 billion dollars in the USA on his "instructions", according to the US President.
Hopes are high that the latest deal will act as a possible blueprint in the trade dispute between the USA and the EU.

ECB deposit rate remains at 2.0 percent - uncertainty due to trade conflicts, among other things

As expected, the European Central Bank (ECB) did not turn the interest rate screws on Thursday afternoon and thus paused interest rates after seven cuts in a row. The deposit rate thus remains at 2.0 percent. According to the central bank, the environment "remains exceptionally uncertain, primarily due to trade conflicts".

The decision did not come as a major surprise. In addition to the uncertainty surrounding the customs dispute, inflation in the eurozone had also fallen significantly recently. In June, the rate was 2.0%, which is as high as the ECB's average target.
"We are well positioned to wait and deal with the turbulent waters that await us," said ECB President Christine Lagarde.

In the US, the Federal Reserve (Fed) is scheduled to decide on the future interest rate level next Wednesday evening (20:00).

Purchasing managers are mixed on both sides of the Atlantic

The economic data calendar only provided important impetus on Thursday with numerous purchasing managers. The aforementioned index (HCOB) was worse than expected for the manufacturing industry and overall, while the services sector just managed to exceed expectations.

In the eurozone, however, both the overall index and the services sector performed better than expected. The manufacturing sector fell short of expectations.

On the US side, however, the services sector fared better, while the manufacturing sector failed to meet the estimates made in advance.

Ifo index remains below expectations - focus on US economic data in the afternoon

This Friday morning, the widely observed ifo business climate index also caused a stir, improving significantly to 88.6 points after 88.4 points in the previous month. However, a value of 89.0 points was expected in advance. "The upturn in the German economy remains anemic," said ifo head Clemens Fuest.

In addition, incoming orders for durable goods in the USA could provide important impetus this afternoon (14:30).

Volkswagen struggles with US tariffs - forecast revised downwards

In the reporting season, the car manufacturer Volkswagen (ISIN: DE0007664039) caused long faces in Germany. Operating profit for the second quarter slumped by around 30 percent to 3.8 billion euros. The forecast was also cut due to the tariffs imposed by US President Donald Trump. According to information from Friday, VW is now only expecting sales at the previous year's level. Previously, an increase of up to five percent was considered possible.

VolkswagenAn image containing text, diagram, series, screenshot, etc. AI-generated content may contain errors.

Source: TradingView

Dow Jones Industrial Average Index

An image containing text, diagram, series, screenshot, etc. AI-generated content may contain errors.Source: TradingView

Timo Emden in a dark suit and tie poses in front of a plain gray background and looks neutrally into the camera.
Timo Emden

Timo Emden holds a B.A. in Business Administration, is a market analyst and a certified blockchain expert from the Frankfurt School of Finance & Management. He has been following the global financial markets for over 14 years, with a focus on crypto assets. His assessments are based on chart technology and sentiment - he nevertheless considers important fundamental events to be significant. As a market expert, Mr. Emden is a valued contact for TV, press and radio.

View all posts
Mandatory information and disclaimer

This is a marketing communication within the meaning of Section 63 (6) of the German Securities Trading Act and does not contain investment strategy recommendations, investment recommendations or financial analyses in accordance with Section 85 of the German Securities Trading Act and Article 20 of the Market Abuse Regulation. It therefore does not fulfill the legal requirements to guarantee the objectivity of investment strategy recommendations/investment recommendations/financial analyses. CapTrader GmbH or its employees are therefore not legally prohibited from trading or providing services in the securities products mentioned therein prior to publication of the information.

Past performance, simulations or forecasts are not a reliable indicator of future performance. Mandatory information and limitation of liability for CapTrader and any third-party content providers can be found at https://www.captrader.com/marketingmitteilung/angaben
Please note that investing in financial instruments involves high risks and take note of our disclaimer and the mandatory legal information at the locations indicated.

  1. Mandatory information

Responsible: CapTrader GmbH, Elberfelder Straße 2, 40213 Düsseldorf; Commercial Register Number: HRB 86537 Düsseldorf Local Court; VAT ID DE323771603; Managing Directors Andreas Weiß, Christian Weiß, Michael Heyder; Tel: +49 211-740786-00, Fax: +49 211-740786-90.

Zuständige Aufsichtsbehörde: Bundesanstalt für Finanzdienstleistungsaufsicht, Graurheindorfer Straße 108, D – 53117 Bonn und Marie-Curie-Str. 24-28 D – 60439 Frankfurt am Main, Tel: 0228 4108 – 0 Fax: 0228 4108 1550 E-Mail: poststelle@bafin.de; Institutsnummer 10156708

Conflicts of interest CapTrader in marketing communications: CapTrader GmbH confirms that it does not hold any positions in the mentioned financial instruments beyond the positions mentioned in the marketing communication itself, if applicable. There are also no other conflicts of interest within the meaning of CapTrader GmbH's Financial Analysis and Marketing Communication Policy.

Conflicts of interest and mandatory disclosures by the third-party content provider for marketing communications with financial instrument recommendations: See under https://www.captrader.com/marketingmitteilung/angaben  to creators of third-party content

The copyright to the marketing communication is reserved. Reprinting and distribution is only permitted with our consent.

  1. Disclaimer

By accepting the content, the recipient accepts the binding nature of the limitation of liability.

a) Disclaimer for third-party content

CapTrader GmbH offers authors - such as editors, guest commentators, agencies and companies - the opportunity to publish comments, analyses, news and company announcements. Their opinions do not necessarily reflect the opinions and views of CapTrader GmbH and its employees. CapTrader GmbH assumes neither liability nor guarantee for this content. This applies in particular to incomplete or incorrectly reproduced reports, incorrect price information and editorial errors. Liability claims relating to material or immaterial damage caused by the use or non-use of the published information or by the use of incorrect or incomplete information are fundamentally excluded.

b) Exclusion of liability for CapTrader's own content

CapTrader has taken its own information in this marketing communication from sources believed to be reliable, but has not verified all such information itself. Accordingly, CapTrader makes no warranties or representations as to the accuracy, completeness or correctness of the information or opinions contained herein. Subsequent changes cannot be taken into account. The marketing communication does not constitute an offer or solicitation to buy shares of the issuer and is in no way a substitute for advice appropriate to the investor and the property. We cannot verify whether the information in the marketing communication is in line with your personal investment strategies and objectives. We recommend that you consult an investment advisor for advice that is appropriate to the investor and the property. The marketing communication cannot and should not replace a securities prospectus and/or expert investment advice required for an investment. It can therefore never be the sole basis for an investment decision. By accepting the marketing communication, the recipient accepts the binding nature of the above limitation of liability.

CapTrader provides the information despite careful procurement and provision only without guarantee for the correctness / completeness, timeliness or accuracy and availability of the stock exchange and economic information, prices, rates, indices, general market data, valuations, assessments and other accessible content held and displayed for retrieval. This also applies to third-party content. Historical observations and forecasts are not a reliable indicator of future developments. The facts presented in particular in connection with product information are for illustrative purposes only and do not permit any statements to be made about future profits or losses. Any conditions stated are to be understood as non-binding indications and are dependent on market developments on the day of conclusion.

CapTrader accepts no liability for any direct or indirect damage caused by and/or related to the distribution and/or use of this marketing communication.

The information, opinions and statements correspond to the status at the time of preparation of the marketing communication. They may be outdated due to future developments without the publication being changed.

CapTrader is not obliged to update, amend or supplement the information in this marketing communication if a circumstance mentioned in this publication or a statement, estimate or forecast contained therein changes or becomes inaccurate. The presentation of the performance of financial instruments over previous periods does not provide a reliable indication of their future performance. No guarantee can therefore be given for the future price, value or income of any financial instrument mentioned in this publication.

Despite careful control of the content, we assume no liability for the content of external links. The operators of the linked pages are solely responsible for their content.

Distribution: This publication may only be distributed in accordance with the laws of the respective countries, and persons in possession of this publication should inform themselves about the applicable local regulations. The information contained herein is not intended for natural or legal persons who, due to their place of residence or business, are subject to a foreign legal system that imposes restrictions on the distribution of such information. The contents are therefore exclusively in German. In particular, this publication contains neither an offer nor an invitation to purchase securities to citizens of the USA, Great Britain and Australia.

Taxes: The tax treatment of financial instruments depends on the personal circumstances of the respective investor and may be subject to future changes, which may also have a retroactive effect.

Historical observations and forecasts are not a reliable indicator of future developments. The facts presented in particular in connection with product information are for illustrative purposes only and do not permit any statements to be made about future profits or losses. Any conditions stated are to be understood as non-binding indications and are dependent on market developments on the day of conclusion.

CapTrader accepts no liability for direct or indirect damage caused by and/or in connection with the distribution and/or use.

The information, opinions and statements correspond to the status at the time of preparation of the marketing communication. They may be outdated due to future developments without the publication being changed.

CapTrader is not obliged to update, amend or supplement the information if a circumstance mentioned in this publication or a statement, estimate or forecast contained therein changes or becomes inaccurate. The presentation of the performance of financial instruments over previous periods does not provide a reliable indication of their future performance. No guarantee can therefore be given for the future price, value or income of any financial instrument mentioned in this publication.

Despite careful control of the content, we assume no liability for the content of external links. The operators of the linked pages are solely responsible for their content.

Distribution: This publication may only be distributed in accordance with the laws of the respective countries, and persons in possession of this publication should inform themselves about the applicable local regulations. The information contained herein is not intended for natural or legal persons who, due to their place of residence or business, are subject to a foreign legal system that imposes restrictions on the distribution of such information. The contents are therefore exclusively in German. In particular, this publication contains neither an offer nor an invitation to purchase securities to citizens of the USA, Great Britain and Australia.

Taxes: The tax treatment of financial instruments depends on the personal circumstances of the respective investor and may be subject to future changes, which may also have a retroactive effect.

Email:

info@captrader.com

Send e-mail

Phone:

Hotline (Germany)
0800-8723370

Hotline (International)
00800-08723370

Further contact options