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Recently, Deutsche Bank and Commerzbank experienced losses in the stock market due to concerns about the European Defence outlook. While our Portfolio Strategy team is optimistic about European Defence, they are cautious about investing in EU Defense due to challenging valuations and recent outperformance.
The auto industry also felt the impact of the market sentiment, with companies like Volkswagen, BMW, Mercedes Benz, and Porsche all seeing declines in their stock prices. As investor focus shifts to the ECB monetary policy decision, uncertainty looms about potential interest rate cuts.
Upcoming economic reports, such as the US CPI Report, could affect investor sentiment and influence the decision-making of central banks like the ECB and the Fed. FOMC member commentary will also play a crucial role in shaping market dynamics.
In the near term, the DAX’s performance will likely be influenced by the US CPI Report, FOMC member commentary, and the ECB interest rate decision. Technical indicators suggest that the DAX is currently in a bullish phase, but market conditions could shift based on economic data and central bank actions.
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