This news is generating positive momentum in the stock markets. After some easing in the tariff dispute had already been felt over the past few days, a US court has now ruled that the Trump administration’s proposed tariffs were unlawful. This could trigger waves of optimism on European stock markets in particular.
Although an immediate appeal against the ruling has been filed, the market is likely to continue pricing in this decision positively. For the DAX, this could mean another push toward record highs today.
On Wednesday, however, the index slightly pulled back and closed down 0.78%, though it still ended above the 24,000-point mark at 24,038 points.
Daimler Truck Affected by US Tariffs
Among individual stocks, automotive companies such as BMW, Daimler, and supplier Continental led gains in the DAX the previous day. Meanwhile, Zalando failed to maintain its momentum and fell again by more than 3%. This suggests that the e-commerce retailer’s trading range will likely remain extended for now.
The performance of Daimler Truck will be particularly interesting to watch. The company’s shares closed down 4.6% yesterday due to being hit by the proposed tariffs — but with the US court’s ruling, a strong rebound may now be on the agenda.
Euro Pays Tribute to Strong US Dollar
The impact of the court ruling on the US dollar is already clearly visible in EUR/USD. The greenback strengthened immediately, while the euro once again traded well below the 1.14 level, at around 1.12.
This decision could lead to renewed strength in the US dollar, putting pressure on the euro. Therefore, Lagarde’s plan to use a strong euro as a countermeasure against the tariffs appears to be on shaky ground.
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