On the German stock market, the glass is currently neither half full nor half empty. Instead of a leisurely pursuit of records, a autumn blues characterized by uncertainty is likely to continue to dominate the stock market. Above 25,000 points, market participants seem to be largely comfortable and well-positioned. The upward momentum is currently being supported by a combination of high oil prices and bond yields. The combination continues to act as a drag on the stock markets.
DAX
German industry suffers a surprisingly sharp drop in orders – monetary policy signals from the ECB and Fed conceivable
German industry experienced an unexpectedly strong drop in orders in August. Thus, new business in August fell by 10.6 percent compared to the previous month, the strongest drop since the beginning of the year, as the Federal Statistical Office announced on Tuesday.
At around 15:00, there could be monetary policy signals from the European Central Bank (ECB). Frank Elderson and Piero Cipollone are expected to speak. In the USA, John C. Williams (15:05) and Michelle Bowman (16:45) are expected to speak.
Fed minutes as possible week-end highlight - investors hope for new clues about US monetary policy
The minutes of the Fed’s most recent interest rate meeting are on the agenda on Wednesday evening (20:00). On September 16, the Fed last raised the key interest rate by 25 basis points to a range of 3.75 to 4.00 percent. On October 28, the U.S. central bank plans to meet again as scheduled to decide on future monetary policy.
The CME Group’s „Fed Watch Tool“ currently signals that 78.4 percent of market participants expect a pause in interest rates and 21.6 percent an increase in interest rates, for a total of a quarter of a percentage point at the meeting on October 28.
In a trading week that is easy to overview from a calendar perspective, on Thursday in the USA the first applications for the US unemployment rate (14:30) and on Friday the preliminary consumer sentiment data from the University of Michigan will be in focus (16:00).
Oil price (West Texas Intermediate)
