Market activity was subdued on Wednesday, with the DAX index closing at 23,359 points, a modest increase of 0.1% compared to the previous day’s close. The movement followed the release of disappointing US housing data, which significantly missed market expectations. New construction starts declined by 8.5% compared to the previous month, indicating a softening within a key sector of the US economy.
Analysts suggest the Federal Reserve is likely to factor this data into its interest rate decision later today, potentially tempering the impact on the US real estate market. Concerns had already been emerging regarding US consumer sentiment, intensifying the anticipation surrounding the Federal Reserve’s upcoming announcement and Chairman Jerome Powell’s accompanying statements.
The Euro weakened slightly during Wednesday afternoon trading, fetching 1.1848 US dollars, equivalent to 0.8440 euros per dollar.
Gold prices experienced a slight decline, with a fine ounce trading at $3,686 (a decrease of 0.1%), translating to approximately €100.03 per gram.
Crude oil prices also fell, with a barrel of Brent North Sea crude costing $68.05, representing a decrease of 42 cents or 0.6% from the previous day’s close.
