FX.co ★ DAX Hits Over 1-Month High

Frankfurt's DAX index climbed by 0.6% on Tuesday afternoon, breaking through the 24,200 mark, its highest level since June 6. This rise was fueled by cautious optimism regarding a potential trade agreement between the US and the European Union. The EU is aiming to finalize a preliminary trade pact with the US this week, which would secure a 10% tariff rate beyond the looming August 1 deadline. As reported by Politico, the US has proposed a deal maintaining the 10% baseline tariffs, with certain exemptions for sensitive sectors like aircraft and spirits. On Monday, President Trump informed Japan, South Korea, and 12 other nations that they could face tariffs of at least 25% from August 1 unless new trade agreements are established, although he remains open to negotiations. In economic developments, German exports fell for a second month in a row in May, primarily due to reduced demand from the US amid tariff threats. Leading equity performers included Commerzbank, which saw a 3.5% increase, followed by Bayer at 2.8%, BASF at 2.5%, Porsche at 2.2%, and MTU Aero Engines at 1.9%. In contrast, Siemens Energy and Fresenius were among the laggards.