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DAX Poised to Test Key Support Level

DAX was down on Friday after testing the high level of 20105 in the last trading session as the DAX closed 1.2% lower at 19,999 on Thursday, tracking a fall in European and Asian stocks, as traders reacted to the latest FOMC decision. The Fed lowered the fed funds rate by 25bps as expected yesterday but signalled only 50bps of rate cuts for 2025, half the reduction projected in September, as inflation is seen taking longer than previously anticipated to reach the target. In Europe, the Bank of England kept interest rates steady as anticipated.