German stocks edged lower on Tuesday as investors awaited the outcome of the Fed’s two-day policy meeting starting later today for directional cues.
Earlier today, the Bank of Japan maintained its massive stimulus and raised its growth forecasts for the world’s third-largest economy, citing expected stronger demand.
Elsewhere, Sweden’s central bank retained its key interest rate and the asset purchase program to support economic recovery and subdued inflation.
The Executive Board of Riksbank decided to hold the repo rate at zero percent and also kept the envelope of the asset purchase program unchanged at SEK 700 billion.
The benchmark DAX dropped 24 points, or 0.2 percent, to 15,269 after closing 0.1 percent higher on Monday.
Automakers lost ground, with BMW and Volkswagen falling around 1 percent.
Travel-related stocks were moving higher, with airline Lufthansa rising less than half a percent.
Market Analysis
DAX Edges Lower As Traders Await Fed Meeting
2021-04-27 08:57:52
