FX.co ★ DAX Extends Losses

The DAX index in Frankfurt experienced a 0.4% decline, trading below the 24,000 mark on Friday, marking its fifth consecutive day of decline. This session was largely influenced by significant inflation data from both Europe and the United States. Domestically, German unemployment figures declined unexpectedly in August, marking the first drop since December 2022. The focus now shifts to the preliminary inflation data for August, set to be released later today. On the trade front, the European Union formally proposed the elimination of tariffs on US industrial goods, addressing a key requirement from the White House to reduce automobile tariffs on European imports. In corporate news, several sectors reported losses, particularly technology and automotive industries. Companies like Infineon Technologies, SAP, BASF, Volkswagen, BMW, and the Mercedes-Benz Group each saw their shares decline by approximately 1%. Conversely, defense stocks, including Rheinmetall, Renk, and Hensoldt, recorded gains exceeding 2%. The DAX is anticipated to end the week with a 1.7% decrease and a 0.5% decline for the month.