FX.co ★ DAX Dips Slightly

On Monday, Germany's DAX index experienced a downward shift, slipping below the 24,000 mark as traders considered the implications of weak economic data and awaited further developments in trade negotiations. Retail sales in Germany declined by 1.6% in May, following a 0.6% decrease in the previous month, highlighting ongoing consumer fragility. Additionally, inflation rates cooled in three major states during June, although national inflation is anticipated to be at 2.2%, which is a slight increase from May's 2.1%. Regarding trade matters, President Trump announced no intention to extend the 90-day suspension of tariffs on most nations beyond the July 9 deadline, marking the end of the negotiation period he established. Meanwhile, Washington and Beijing resumed shipments of rare earth materials last week, while Taiwan, India, and Japan indicated growing trade engagement. In pursuit of reinitiating discussions with the US, Canada is eliminating its digital services tax ahead of the July 21 deadline. Significant decliners included Deutsche Bank, BMW, Bayer, Mercedes-Benz Group, Volkswagen, and Brenntag. Conversely, defense stocks emerged as the day's top performers.