DAX Edges Higher With ECB Rate Decision In Focus
2024-09-02
2610
(fxcue news) - German stocks opened on a firm note Monday, after having suffered heavy losses on Friday on concerns about slowing U.S. growth.
Investors await cues from key U.S. inflation readings this week for more insight into the size of rate cuts at the next Fed meeting.
Closer home, the European Central Bank's rate decision is due on Thursday and the central bank is widely expected to cut rates by 25 basis points.
The primary focus will be on the commentary from ECB President Christine Lagarde regarding the possibility of further cuts in October and December.
Also, several ECB members are scheduled to speak at various events throughout the week
The benchmark DAX was up 100 points, or 0.6 percent, at 18,402 after losing 1.5 percent on Friday.
In corporate news, Sportswear brand Adidas AG slumped 4.3 percent after Barclays downgraded its rating on the stock to "equal weight" from "overweight".
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