DAX and FTSE Struggle Ahead of Fed Chair Powell’s Speech

 

The DAX 40 declines as energy prices rise. Continue to soar, as exporters’ attitudes deteriorate.

Early in European trading, the Dax rose before falling as the day went on. Thanks to a surge in the US session, the index posted its second straight day of gains yesterday. The index has showed some resilience after its early-week losses as the highly anticipated Jackson Hole symposium, which began yesterday night, approaches.

The Gfk German Consumer Climate Index from earlier in the session offered a gloomy image. The forward-looking Gfk index decreased to -36.5 in September, a significant decline from the previously reported -30.9 in the prior month and far below the forecasted -31.8. The announcement follows yesterday’s decline in the German Ifo business climate index to its lowest level in more than two years.

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