MarketPulse | Jan 05, 2018 12:49AM ET
The DAX has posted strong gains in the Thursday session. In North American trade, the index is at 13,185.50, up 1.57% on the day. The index is currently at a 2-week high. On the release front, German Final Services PMI improved to 55.8, matching the forecast. Eurozone Final Services PMI followed suit, climbing to 56.6, which edged above the estimate of 56.5 points. Friday will be busy, as the Germany releases retail sales, and the eurozone publishes CPI Flash Estimate.
Germany’s economy continues to impress, as fourth quarter numbers point upwards. Manufacturing and services PMIs gained ground in December, and inflation accelerated to 0.6%, edging above the forecast of 0.5%. The strong gain matched the February reading, equaling the strongest gain recorded in 2017. Unemployment rolls continue to fall, as the labor market continues to remain tight in a robust economy. The numbers are all the more impressive as the political landscape remains uncertain, following inconclusive elections in September. President Angela Merkel is now eyeing the Social Democrats as a coalition partner, but negotiations are moving at a slow pace.
European stock markets have posted strong gains on Thursday, buoyed by sharp German and eurozone Services PMIs. These releases come on the heels of strong Manufacturing PMIs in Germany and the eurozone. With the manufacturing and services sectors continuing to expand, investors like what they see in Europe, and the euro and the DAX have pushed higher on Thursday. German Retail Sales are expected to rebound in December, with an estimate of 1.0%. If the indicator meets or beats expectations, the DAX rally could continue.
Economic Calendar
Thursday (January 4)
*Key events are in bold
DAX, Thursday, January 4 at 11:15 EDT
Open: 13,062.50 High: 13,207.50 Low: 13,061.00 Close: 13,185.50
Original post
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.