Around two weeks before the election of the future US president, nervousness is becoming increasingly noticeable on the German stock market. In view of the neck-and-neck race, there is still a great deal of uncertainty as to how the next government will be formed. In a trading week that is manageable from the perspective of the economic calendar, the ongoing reporting season is likely to provide important impetus time and again.
DAX Chart
Source: Tradingview
Investors hope for monetary policy stimulus from Christine Lagarde - "Beige Book" in view
A speech by ECB President Christine Lagarde could provide monetary policy impetus (16:00). After last Thursday's key interest rate decision, investors are hoping for important indications about the future shape of monetary policy. It is quite possible that the ECB will lower interest rates at least once more by a quarter of a percentage point in mid-December and thus at the last scheduled meeting of the current year.
Investors' attention is likely to be focused this evening on the publication of the so-called "Beige Book" (20:00). In this context, investors are hoping to gain important insights into the current economic situation in the United States.
Purchasing managers on both sides of the Atlantic in focus - ifo index likely to move on Friday
Thursday in Germany will initially be dominated by the publication of purchasing managers' indices for the manufacturing and service sectors as well as the overall index. The counterpart for the eurozone will be published at 11:00 and for the USA at 15:45.
The initial claims for US unemployment benefits (14:30), which have recently stabilized again after a rapid rise, are also likely to be important.
On Friday, it is important to keep an eye on the widely observed ifo business climate index (10:00 a.m.). Last month, the most important German economic indicator fell surprisingly sharply and for the fourth time in a row, which corresponds to the lowest level since January (85.4 points).
Incoming orders for durable goods in the USA are also likely to provide important indications (14:30).
The trading week is rounded off by consumer confidence data from Reuters/Uni Michigan (16:00).
Deutsche Bank posts billions in profit - Mercedes-Benz and Porsche AG in focus on Friday
Deutsche Bank presented its figures today, Wednesday. According to the annual reports published today, Germany's largest financial institution posted a profit after taxes and minority interests of 1.46 billion euros in the third quarter, compared to 1.03 billion euros in the previous quarter. "In the past quarter, we made important progress in leaving legal burdens behind us," said Deutsche Bank CEO Christian Sewing. "At the same time, we generated a record profit for a third quarter in our operating business."
On Thursday, the focus will be on the figures of MTU Aero Engines and on Friday on the results of Mercedes-Benz and Porsche AG.
