SAP in Focus: Quarterly Figures Could Determine DAX Trend

Today's agenda is marked by the release of the quarterly figures of the European software giant SAP. As a heavyweight in the DAX index, with an impressive market value of 261 billion euros, SAP not only represents 15% of the index but also influences sentiment in the German and European stock markets. Particularly noteworthy is the performance of SAP's cloud and business planning software division this year, resulting in a remarkable 53% increase in stock prices. This is especially significant as the stock markets have been notably volatile over the past week due to reports from major US banks and chip manufacturers such as ASML. In addition to the European markets, global attention is also focused on the upcoming US presidential election on November 5. Currently, polls show improved chances for former President Donald Trump against Vice President Kamala Harris, which also impacts trading strategies. Continuous economic stimuli in China are positively affecting the markets as well. On Monday, the benchmark interest rate was reduced by a quarter of a percent. Bitcoin reached a three-month high and has increased by 18% since October 10, attributed to the rising success prospects of Trump, whose policy might seek a more lenient approach to cryptocurrencies. The dollar is also showing an upward trend, supported by rising US real interest rates and moderate interest rate policies in other currency areas. Analysts point to the increasing interest rate differential between the US and Germany, now approximately 189 basis points, as another market influencing factor.