DAX30 Moves Higher As Investors Cheer Trade Progress

German stocks advanced on Thursday as investors cheered progress on the U.S.-China trade deal and the latest monetary policy move by the Chinese central bank to support the slowing economy.


In what could be a major milestone in a bilateral trade war, U.S. President Donald Trump announced that the phase one trade deal with China will be signed during a White House ceremony on January 15th, and that he would later travel to Beijing to begin negotiations on the next phase.


The People's Bank of China said it would cut banks'reserve requirement ratio by 50 basis points on Jan. 6, a move that frees up more money for banks to lend to small businesses.

The benchmark DAX was up 53 points, or 0.4 percent, at 13,302 as trading resumed after the New Year's Day holiday.


The euro held steady against its major rivals ahead of regional PMI surveys due later in the day.


Final factory PMI results are due from France and Germany, at 3.50 am and 3.55 am ET, respectively. At 4.00 am ET, Eurozone final manufacturing PMI data is due.




0 views
Logo

MONEY
MOVING

by WooHoo Ireland

+353-214-651-000

Woooo Fx Education

Camden Street Lower, St Kevin's, Dublin 2, Ireland D 02 XE 80 | +353-214-651-000 |info@woohooai.com

currency hedger logo_small.png
woohoo fx eu_gdpr_compliant_logo.png

Trading in leveraged currency contracts comes with substantial risk. You must be aware of these risks before opening an account to trade. High leverage amplifies gains as well as losses, leading to potential loss of the entire account balance. Trading in leveraged currency contracts may not be suitable for every investor. Never speculate using money that you cannot afford to lose.

© 2019 by WoOHOo Fx. Proudly created with WoOHoO AI Ireland

  • Facebook
  • Twitter
  • LinkedIn
  • Instagram