FX.co ★ DAX at Near 2-Week High

Germany's DAX index continued its upward momentum, climbing 1.1% to close at 23,726 on Wednesday, marking its highest level since mid-November, and aligning with trends seen in other major markets. This marks a third consecutive day of gains for the index, buoyed by anticipation of a potential rate cut by the U.S. Federal Reserve in December and optimism regarding a resolution to the conflict in Ukraine. The International Monetary Fund (IMF) highlighted that Germany's fiscal easing and increased investment have created space for recovery, albeit a fragile one, and stressed the necessity for structural reforms to ensure sustainable growth beyond just fiscal measures. The financial community now eagerly anticipates the Federal Reserve's Beige Book release, which will be instrumental in evaluating inflationary pressures and the ramifications of the recent government shutdown on economic growth and labor markets. Among the leading sectors were banking firms, with Commerzbank's stock rising 5.8%, while Deutsche Bank saw a 2.5% increase. Other notable gainers included Siemens Energy with a 5% rise, Infineon Technologies up by 3.7%, Adidas increasing by 3%, Zalando up 2.4%, and Rheinmetall advancing by 1.9%.