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DAX Inches Higher Ahead Of Key Inflation Data

2024-06-07MyfxbookMyfxbook
German stocks were moving higher on Wednesday, as investors awaited crucial Eurozone inflation data later in the day as well as Fed Chair Jerome Powell's speech that could give further insight into future interest rate
DAX Inches Higher Ahead Of Key Inflation Data

(RTTNews) - German stocks were moving higher on Wednesday, as investors awaited crucial Eurozone inflation data later in the day as well as Fed Chair Jerome Powell's speech that could give further insight into future interest rate hikes.

Ahead of the ECB's interest-rate decision next month, ECB President Christine Lagarde said earlier this week that inflation in Europe hasn't reached its peak yet and it risks turning out even higher than currently expected.

The benchmark DAX edged up 68 points, or half a percent, to 14,423 after losing 0.2 percent the previous day.

BioNTech rose about 1 percent after it entered into a global collaboration with Poland's Ryvu Therapeutics to jointly develop and commercialize immuno-modulatory small molecule candidates.

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