FX.co ★ DAX Trim Losses

On Friday afternoon, Germany's DAX index moderated its initial losses of more than 1% to trade marginally lower, around the 23,220 mark—mirroring trends observed in European and US markets. Concerns regarding heightened AI valuations were alleviated following comments from a senior Federal Reserve official, which rekindled optimism about potential monetary easing. Additionally, traders considered the likelihood of a peace agreement in Ukraine. From an economic data perspective, an early PMI survey revealed ongoing fragility in Germany's manufacturing sector, coupled with a deceleration in services growth for November. Siemens Energy stood out as the major underperformer, dropping 6.6% as investors engaged in profit-taking following its record high the previous day.