On Monday, German stocks remained relatively stable as ongoing tensions in the Middle East, alongside investors' jitters regarding the upcoming U.S. presidential election and the Federal Reserve's impending decision on interest rates, cast a shadow over the markets.
With the U.S. elections just a day away, estimates from the University of Florida indicate that over 75 million early votes have already been submitted. This election will determine whether the newly elected president will be supported by a cooperative Congress or will face opposition.
A split in control between the U.S. House of Representatives and the Senate would likely result in maintaining the current political status quo.
On Thursday, the U.S. Federal Reserve is set to announce its decision on interest rates, with a subsequent press conference led by Fed Chair Jerome Powell. Market anticipations suggest that the U.S. central bank may lower interest rates by 25 basis points due to emerging economic inconsistencies, a move that would follow a more considerable 50 basis point reduction in September.
Amid these developments, the dollar experienced a slight decline, influenced by weaker-than-expected U.S. employment data, which indicated a cooling labor market.
The benchmark DAX index was slightly down at 19,249.35, following a 0.9 percent increase recorded last Friday.
