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DAX 30: increase in risk appetite _20/04/2016

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Overview and Dynamics

Recovery of oil prices after a significant decline on Monday amid a failed meeting in Doha, as well as the Fed's cautious statements of representatives concerning the interest rate increase in the United States, contribute to the weakening of the US dollar and an increase in risk appetite and buying riskier assets such as stocks.

Against the backdrop of the growth of world stock indices are also rising and European indices, despite the modest, sometimes negative or close to zero indicators of the state of the Eurozone economy. Thus, released yesterday, the index of the current economic conditions in Germany ZEW institute turned out worse than forecast in April (47.7 vs. 51.0, and 50.7 in March). However, the index of economic sentiment in the business environment, which in April has significantly improved in Germany (11.2 vs. 8.0 and 4.3 in March) has supported European stocks, including index of the Frankfurt Stock Exchange DAX30. The index of business expectations ZEW institute in April in the euro area also went better than expected (21.5 vs. 13.9 forecast and 10.6 in March).

However, the ECB's efforts to improve the situation in the economy and the acceleration of inflation in the euro area is to have weak results. Thus, released today, the German producer price index, ended up with a value of zero in March and showed a decline in annual terms by 3.1%.

The focus of the financial markets tomorrow will focus on the ECB decision on interest rates (Thursday 11:45 GMT) and the press conference of the ECB, Mario Draghi, to be held after the meeting at 12:30 (GMT).

Although the change in interest rates in the euro area is not expected to follow the rhetoric speeches M.Dragi will have a significant impact on financial markets.

Wednesday, 20 Apr, 2016 / 11:38

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