The DAX opened the new week on a modest note. At 9:30 a.m. the index was listed at 24,895 points in Frankfurt’s trading hall, five points-or 0.02 %-below Friday’s closing level.
Gold attracted early attention, rallying sharply to a new all‑time high. One fine ounce fetched €5,098, up 2.3 % from the previous day, translating to €138.40 per gram-a record‑setting price.
Investors are now watching the Federal Reserve’s policy meeting scheduled for January 28. BNP Paribas’s Stephan Kemper warned that the “historically unprecedented and sharp signals” being sent against the Chair suggest political pressure. He added that Powell has made it clear that the Fed will pursue evidence‑based rate policy rather than succumb to political intimidation.
Although the Fed retains a formal 2 % inflation target, it appears to be operating near a 3 % rate in an effort to steady the labour market. Kemper expects this “soft” stance to endure even under new leadership.
At market open, bank names-particularly Commerzbank and Deutsche Bank-moved more sharply in line with the subdued trend, while shares in Airbus and Daimler Truck saw notable declines.
The euro weakened in early trade: one euro was worth 1.1842 U.S. dollars, and one U.S. dollar traded at 0.8445 euros.
