During Holy Week, investors in Germany continued to welcome new record highs. The rally could possibly continue in the middle of the week and on Thursday.
Important US economic data in particular is likely to be of interest in the second half of the week. However, it should be noted that the stock exchanges in Frankfurt am Main will be closed on Friday and Easter Monday due to public holidays.
DAX 40 Chart on a weekly basis
Source: Tradingview
DAX rushes from record to record - no profit-taking for the time being
The course of the week leading up to Easter so far should continue to be to investors' liking. After four DAX record highs in a row, there is still no profit-taking, which indicates a sustained appetite for risk. A new all-time high of over 18,420 points was recently achieved.
GfK climate may improve somewhat - Fed representatives provide impetus
Comments from Fed representatives will continue to be important this week. Director Lisa Cook already said on Monday that the US monetary authority should act cautiously with regard to the interest rate turnaround. Her colleague Austan Goolsbee told a TV station that he considers three interest rate hikes this year to be appropriate.
On Tuesday, fresh GfK consumer climate data signaled slight signs of recovery. Economic and income expectations had risen slightly. Nevertheless, consumers in Germany remain unsettled, it was reported.
Today, Wednesday, will be less spectacular from the point of view of the economic data calendar. Of interest could be consumer confidence for the eurozone (11:00 am) and a speech by Fed member Christopher Waller at 11:00 pm.
New retail sales figures for the German sector will be published on Thursday at 08:00. Economists expect a decline of 0.8 percent after -1.4 percent in January (year-on-year).
US gross domestic product in focus on Thursday - decline expected
How strongly the US economy grew in the fourth quarter of 2024 is also likely to be of interest in Frankfurt am Main (13:30). The world's largest economy is expected to have grown by 3.2% compared to the previous quarter and thus less strongly than before (4.9%).
At 15:00, consumer confidence from Michigan could also provide movement, which is likely to lose momentum slightly.
PCE deflator and Jerome Powell round off the week - stock market doors remain closed for Good Friday
Friday, however, is a busy day. In the afternoon, new data on the PCE deflator will be published (13:30), which is the US Federal Reserve's preferred measure of inflation.
Public comments by Fed Chairman Jerome Powell are also on the agenda (16:30).
As a result, DAX investors will not be able to react to this data until Tuesday. The stock exchanges in the USA will also remain closed on Good Friday. However, trading will take place on Easter Monday.
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