The current situation is characterized in particular by developments in the customs dispute between the US and the EU, which continues to be a classic perennial issue. In addition to the publication of US price data, it is also important to keep an eye on the recently launched reporting season in the United States, which could also provide a corresponding stimulus in Frankfurt am Main.
DAX
Source: TradingView
EU prepares counter-tariffs on imports from the USA amounting to 72 billion euros
In the customs dispute with the USA, the EU is now preparing further counter-tariffs on imports from the USA. There is talk of a volume of 72 billion euros should the negotiations with the US government fail. The list would include industrial and agricultural products from the USA. Last Saturday, Trump announced tariffs of 30 percent on goods from the EU despite ongoing negotiations. EU Commission President Ursula von der Leyen said, however, that the EU was prepared to work on an "agreement" by August 1.
Focus on US producer prices - interest rate cut fantasies could dampen further
In the afternoon, the so-called US producer prices are on the daily agenda in the USA, which could send monetary policy signals (14:30).
On Tuesday, US inflation data had already put a damper on US interest rate reduction fantasies. These had risen by 2.7% in June compared to the previous month, after 2.4% in the previous month. Core inflation, which excludes the drivers energy and food, stood at 2.9% (previously 2.8%).
US retail sales and German producer prices round off the trading week
On Thursday, in addition to US retail sales, the weekly initial claims for US unemployment benefits are on the agenda (14:30).
Investors should initially keep an eye on the development of German producer prices on Friday morning (08:00).
Last but not least, consumer confidence from the University of Michigan will be the focus of market players on Friday (16:00)
US reporting season has started: Stimulus also conceivable in Frankfurt am Main
The reporting season is likely to provide impetus today with figures from Goldman Sachs (ISIN: US38141G1040), Bank of America Corp (US0605051046) and Morgan Stanley (ISIN: US6174464486). PepsiCo (ISIN: US7134481081) and Netflix (ISIN: US64110L1061) will report on Thursday.
