The DAX Index has posted sharp gains in the Friday session, recouping the losses seen on Thursday. Currently, the index is at 10,574, up 1.0 percent on the day. On the release front, Germany will publish Preliminary CPI, a key gauge of consumer inflation. The indicator slipped to 0.1% in November, but is expected to improve to 0.3% in December.
Global stock markets have taken investors on a roller coaster ride, which has helped boost the greenback as risk appetite has soured. Eurozone and German economic activity has been hampered by the global trade war, which has taken a bite out of the export sector and dampened consumer confidence. The massive volatility has left investors jittery and sent risk appetite sharply lower. As well, the Italian budget crisis and Brexit remain serious headaches for policymakers. With the global trade war in full force, traders can expect the volatility in the equity markets to continue into the New Year.
The sole eurozone indicator on Thursday was the monthly ECB economic calendar. The prognosis was pessimistic, with the bank projecting that global economic activity would soften in 2019. As for the eurozone, the report found that GDP increased by just 0.2% in the third quarter, after growth of 0.4% in the prior two quarters. If fourth-quarter numbers are soft, the DAX could face further headwinds.
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