FRANKFURT (dpa-AFX) – The Dax started trading slightly weaker on Friday, as investors awaited the highly anticipated speech by US Federal Reserve Chair Jerome Powell. Shortly after the Xetra opening, Germany’s benchmark index slipped by 0.20 percent to 24,244 points.
Over the course of the week, the Dax has seen little movement, registering only a moderate decline. The all-time high from mid-July, set at 24,639 points, remains somewhat out of reach but is still within sight.
The MDax, which tracks mid-cap companies, was marginally up on Friday at 30,691 points. Meanwhile, the EuroStoxx 50 dipped by 0.1 percent.
Ahead of Powell’s speech at 4:00 p.m. at the central bankers’ meeting in Jackson Hole, Wyoming, market tension is palpable, wrote market expert Stephen Innes from SPI Asset Management. Just over a week ago, the probability of a US interest rate cut in September was estimated at 90 percent –…
