On Whit Monday, the DAX was expected to remain at its record level after the European Central Bank (ECB) had previously driven it to a new all-time high. However, during the trading session, the DAX showed slight losses and moved away from its record level.
Background
- Record Level: The DAX reached a new all-time high of 24,479.42 points on the Thursday before Whit Monday, which was confirmed at a closing level of 24,323.58 points.
- ECB Influence: The ECB’s interest rate decision was the main driver for reaching this new peak.
- Market Expectations: Prior to the trading start on Whit Monday, a slight decrease of about 0.1 to 0.2 percent was expected, indicating that the DAX would remain at its record level.
Trading Session on Whit Monday
- Expected Stability: According to forecasts, the DAX was not expected to move much as trading was anticipated to be quiet due to the holiday.
- Actual Development: The DAX started trading with slight losses and moved further away from its record level throughout the day. At the start, there was a decline of about 0.21 percent to 24,252.26 points, which was slightly extended as the day progressed.
Global Market Conditions
- Wall Street: US markets reacted positively to the employment report on Friday, but this had no lasting impact on the DAX on Whit Monday.
- Asia: In Asia, there were more winners, though this also had no significant impact on the DAX.
Overall, it was evident that the DAX did not remain at its record level on Whit Monday but instead recorded slight losses. Trading was as expected quiet, and global market conditions had little strong influence on the DAX.