FRANKFURT (dpa-AFX) – The Dax should defend its gains from the previous day on Thursday. Broker IG estimated the German benchmark index to be 0.1% higher at 19,280 points two hours before the start of the Xetra. This should allow it to slightly expand its buffer towards the 19,000 point level, recently considered an important support. This downward buffer therefore becomes a little more important than the remaining distance towards the record of almost 19,492 points.
On Wednesday, the Dax had already gained a little momentum thanks to the American stock markets. Investors are now turning to US consumer prices, which will be published in the afternoon. They could be the next driver of action before the US bank earnings season begins on Friday. According to Commerzbank, the market consensus for headline inflation is 2.3% year-on-year, which is slightly lower than the 2.5% recorded in August. Commerzbank experts expect core inflation to remain unchanged from the August level, at 3.2%.
The level of inflation will once again be important to the potential interest rate cuts by the US Federal Reserve (Fed). According to Commerzbank, the minutes of the previous day’s meeting showed that the latest decision gave rise to a “lively debate on the extent of the rate cut.” Ultimately, a “considerable majority” emerged in favor of a 0.5 percentage point reduction./tih/stk
