FX.co ★ DAX Set for New Record High

Frankfurt's DAX index climbed higher on Thursday, breaking the 24,300 mark and marking a new milestone as it extended its winning streak to three consecutive days. This positive momentum was spurred by encouraging factory data and expectations of interest rate cuts. In Germany, factory orders showed an unexpected increase in April, defying predictions of a decline and highlighting strong demand both domestically and within the euro area. Investors are now focusing on the European Central Bank's upcoming policy decision and press conference, with anticipation of further rate cuts followed by a pause to evaluate the broader impact of U.S. trade policies under President Trump on the European economy. Key market movers included Bayer, which surged 4.3% following Goldman Sachs' upgrade of its stock rating from Neutral to Buy and the U.S. Food and Drug Administration's approval for expanded use of its prostate cancer drug, Nubeqa. Auto stocks also saw gains, buoyed by optimism over a potential U.S.-EU trade agreement. Mercedes-Benz Group rose 0.7%, accompanied by gains in BMW, Porsche, and Volkswagen.