DAX index slips despite strong German export figures to the U.S.
The DAX index started Friday on a mixed note, with initial export figures from Germany's Federal Statistical Office providing a brief boost before the market turned negative. Meanwhile, the euro weakened slightly against the dollar.
By 9:30 a.m., the DAX index was hovering around 23,740 points, similar to its Thursday closing level. Despite this, the market initially reacted positively to the export figures released by Germany's Federal Statistical Office. However, the impact was limited, and the index quickly turned negative.
Thomas Gitzel, chief economist of VP Bank, commented on the export figures. He noted a sharp rise in exports to the U.S., despite existing tariffs, indicating high demand for German products. However, he also cautioned about the broader stagnant trend in exports since 2018.
As of Friday morning, the DAX index was around 23,740 points, and the euro was trading at $1.1535 against the dollar. While initial export figures provided a brief boost to the stock market today, the DAX ultimately turned negative, reflecting ongoing uncertainty in the German economy.
