FRANKFURT (dpa-AFX) - The DAX appears to be in a holding pattern ahead of the US interest rate decision on Wednesday evening. Broker IG valued the German benchmark index at 24,045 points on Tuesday, around two and a half hours before the start of Xetra trading.
The day before, the DAX had already been treading water just above its 50- and 100-day moving averages, which are barometers for medium- and long-term trends. It did not break out of Friday's trading range. Market volatility had already declined significantly recently.
Now, caution ahead of the US Federal Reserve's interest rate decision is doing the rest. After a good year so far, with the DAX currently up around 21 percent, hardly anyone wants to take big risks anymore. Recently, an interest rate cut was once again firmly expected./ag/zb
