Following a court ruling on the new US tariffs, investors in Germany could also take things a little easier for the time being, especially as some economic data from the United States is on the agenda for the second half of the week.
The eagerly awaited US jobs data on Friday is likely to decide the weal and woe of the stock market week.
DAX
Source: TradingView
US monetary policy likely to remain one of the key topics of discussion - hopes of an interest rate cut in the US at the September meeting
Monetary policy in the USA and the associated fantasies of interest rate cuts are likely to remain one of the main topics of discussion on the market.
According to the CME Group's "Fed Watch Tool", there is still a good chance that the Fed will cut interest rates by 25 basis points. The probability of this scenario is currently estimated at 89.7%.
US customs negotiations continue despite court ruling
"Our trading partners continue to work very closely with us in the negotiations," said US Trade Representative Jamie Greer. On Friday, a US appeals court in Washington ruled that US President Donald Trump had exceeded his authority by imposing the tariffs. Trump intends to take the case to the US Supreme Court, it was reported.
"JOLTs" and ADP employment data could provide a foretaste of NFPs
The so-called "JOLTs" (Job Openings and Labor Turnover Survey), which refer to vacancies that are not filled on the last working day of the month, could give a first taste of the labor market data today (16:00).
The Fed's economic report (Beige Book), which is expected at 20:00 and could provide important clues, is also likely to be in the spotlight.
The ADP employment data (14:15) is also likely to attract attention on Thursday.
The ISM Purchasing Managers' Index for the services sector will be in the spotlight this afternoon (16:00).
Investors should hope for new interest rate cut fantasies from US labor market data
The last trading day of the trading week is likely to be dominated by the publication of official US labor market data (14:30). In addition to the employment figures, the unemployment rate and average hourly wages are likely to be important.
Economists expect an increase in non-farm payrolls of 75,000 units, after a total of 73,000 new jobs were created in the previous month. In this context, the unemployment rate could rise from 4.2% to 4.3%.
