In a manageable trading week from the perspective of the economic calendar, the current trading week is characterized in particular by the recent launch of the new Trump administration. The annual World Economic Forum in Davos is also worth keeping an eye on. Last but not least, the reporting season in the United States as well as in Germany is likely to continue to provide impetus.
DAX Chart
Source: TradingView
No immediate punitive tariffs against China and Europe for the time being - relief inspires
Relief that Trump will initially refrain from imposing immediate punitive tariffs on Chinese and European goods caused the DAX to rise again to a record high of over 21,264 points in the middle of the week. It should be 10 percent against China imports, with Europe still being considered, it was said.
However, Trump had announced punitive tariffs against Canada as of February 1.
Impetus from the World Economic Forum in Davos conceivable - virtual speech by Trump planned for Thursday
In an already thin economic calendar, attention on Thursday will be focused on the weekly initial claims for US unemployment benefits (14:30). Monetary policy question marks are likely to keep investors on their toes, especially as the Fed will meet for the first time this year next Wednesday to decide on future monetary policy. However, it is expected that the US monetary watchdog will keep its feet still.
At 16:00, consumer confidence for the eurozone will be released.
In addition, attention is likely to turn to Davos in Switzerland when Donald Trump gives a virtual speech. Investors are hoping for important clues as to what the economic relationship between the US and Europe might look like.
Purchasing managers to be published on Friday - reporting season as a potential driver
On Friday, the last trading day of the week, investors will have to digest numerous purchasing managers. The data for the Federal Republic of Germany will be published at 08:00. The Purchasing Managers' Index for the manufacturing industry and the services sector and total will be published at 09:30. The counterparts for the eurozone and the United States will follow at 10:00 and 15:45 respectively.
Today, Wednesday, the focus will be on the figures for Johnson & Johnson and Procter & Gamble. On Friday, the focus will shift to the results of American Express for the past quarter.
