FX.co ★ The world welcomes new record!

On September 16, DAX hit its historical high of 8,621 points. So, in early Monday’s session, the index resumed 1.3% higher as compared to the Friday’s closing level. Thus, Germany’s DAX has set the all-time high. Such a spurt affected the indices of the second-tier companies. For example, MDAX rose by 0.94% to 14,980 points, while TecDAX went up by 0.75% to 1,071 points. The leading euro area EuroStoxx 50 boosted by 0.74% and constituted 2,888. The recent announcement made by the former Director of the National Economic Council of the Unites States could not help provoking such a state of affairs. Lawrence Summers, who was regarded as the major candidate, withdrew his name from consideration as new Fed’s chairman the other day. This news was taken as a clear hint that the Federal Reserve System has not been ready yet to change dramatically its policy course. Hence, it is obvious that the regulator will continue to run the bond buying program, and the cheap money period will be over.