Dax Rises 0.6% to Start Traditionally Strong Q4
The Dax began the day with a 0.6 percent rise, reaching around 24,265 points by 9:30 AM. This increase is attributed to the start of the traditionally strong fourth quarter and expectations of US Federal Reserve support. Meanwhile, the euro strengthened slightly against the US dollar, with one euro worth 1.1749 dollars.
Chuck Schumer, the Senate Minority Leader of the Democratic Party, is currently at the helm of the Democrats' response to the US government shutdown. The shutdown's duration remains uncertain due to the political dynamics between Democrats and President Trump. Despite this, the Dax is benefiting from the pull of new record highs in the USA and positive chart technicals.
The Dax has already gained about half of the 450 points it could potentially gain from the deep trading range seen in September. US President Trump is likely to remain calm about the shutdown, given the record stock market highs and impending rate cuts from the Fed.
The Dax's increase is a positive start to the day, with the index benefiting from various factors. However, the ongoing US government shutdown and its potential duration could introduce uncertainty into the market.
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