DAX Index continues lower for the second trading day in thin volumes due to US holiday, as investors await the countermeasures from China after President Trump signed the legislation backing protesters in Hong Kong. The U.S. plans a new round of tariffs on Chinese goods on December 15.
On the data front the Germany Unemployment Change came in at -16K, below forecasts of 5K in November. The adjusted unemployment rate remained at 5.0%. On the other hand, we have a big miss as the Germany Retail Sales (month over month) came in at -1.9% below forecasts of 0% for October, the yearly reading came in at 0.8% also below expectations of 1.1%.
Recent economic data shows that the German economy might leave the worst behind after the stronger manufacturing PMI reading the previous week. Last week the new ECB President, Christine Lagarde in an interview, asked eurozone governments to boost local demand as a long trade war weigh on global economic growth.