FX.co ★ Germany DAX Rallies Over 1%

On Thursday, the DAX index in Frankfurt recorded an increase of over 1%, surpassing the 23,600 level, and outshined other European indices as investors reacted positively to the latest decision by the Federal Reserve. The US central bank reduced interest rates by 25 basis points, meeting market expectations, marking its first reduction in nine months. Furthermore, the Fed indicated the possibility of two additional rate cuts by year-end. Attention today is directed towards the Bank of England, which is anticipated to maintain current interest rates, and investors are also keenly watching comments from ECB President Christine Lagarde along with Executive Board members Luis de Guindos and Isabel Schnabel. In terms of sector performance, technology and banking stocks registered the most significant gains.