FX.co ★ DAX Slips After ECB Holds Rates

Frankfurt’s DAX 40 slipped 0.9% to 24,930 on Thursday, pulling back from a one-week high after the European Central Bank, as expected, left interest rates unchanged. The ECB reiterated that the outlook for energy prices remains broadly consistent with its June projections but cautioned that uncertainty remains elevated and that the full inflationary impact of the recent energy shock has yet to emerge. Policymakers noted they will continue to monitor the shock’s magnitude, duration, and potential indirect and second‑round effects. At the same time, rising oil prices amid the ongoing Iran conflict kept inflation risks in focus, while mixed US corporate earnings weighed on risk appetite despite stronger‑than‑expected results from Alphabet. On the corporate front, SAP slipped 0.6% ahead of its second‑quarter earnings release, Deutsche Börse was little changed after its Investment Management Solutions unit narrowly missed estimates, and Sartorius declined 1% even as it reported higher first‑half revenue.