Cryptocurrency Bitcoin with price rally over 22,000 US dollars, Dax in the plus near 13,000 points

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Frankfurt Stock Exchange:

The Dax is trying to recover

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Frank Rumpenhorst / dpa

Dax on course for recovery: The leading index Dax can continue its stabilization at the beginning of the week.

The broker IG assessed the leading German index on Monday before the start of trading 0.6 percent higher at 12,952 points.

This is the second attempt to recover from the low since November 2020 at 12,390 points, to which the Dax slipped at the beginning of July.

Risk assets like cryptocurrency Bitcoin also continue to rally: Bitcoin climbed around 4 percent above the $22,000 mark in the morning, while cryptocurrency Ether advanced around 6 percent.

The reason for the stabilization is the market in the USA.

Unexpectedly robust US retail sales and lower medium-term inflation expectations have revived investors' risk appetite, according to Commerzbank.

Accordingly, Wall Street had started the weekend clearly recovered.

According to Commerzbank, expectations of the US Federal Reserve's rate hike at the end of July have recently softened significantly.

Although the calculation is fixed at 0.75 percent, the probability of a 1 percent step has dropped significantly.

However, the ECB is expected to turn around on Thursday and hike interest rates.

Dow Jones is picking up again

The US stock exchanges embarked on a recovery course on Friday.

This was primarily due to robust economic data.

The retail sector increased its sales in June more than expected.

Furthermore, sentiment among industrial companies in New York State, as measured by the Empire State Index, improved surprisingly and significantly in July.

In addition, the upward trend in prices for goods imported into the USA weakened again in June.

Meanwhile, fears that the central bank would act too tightly to combat high inflation have eased somewhat.

After five consecutive days of losses, the Dow Jones rose by 2.15 percent to 31,288 points.

On a weekly basis, the leading index fell by 0.16 percent.

The market-wide S&P 500 rose 1.92 percent to 3,863 points on Friday.

The tech-heavy Nasdaq 100 was up 1.83 percent to 11,983 points.

Asia: Gains to start the week

Asia's major stock markets started the week with gains.

Tailwinds came from Wall Street, where stronger-than-expected US retail sales and lower medium-term inflation expectations lifted sentiment on Friday.

The CSI 300 index of the 300 most important companies in mainland China rose by a good one percent and the Hang Seng index of the Hong Kong SAR gained more than two and a half percent.

The stock exchanges in South Korea and Australia also went up.

In Japan, the stock market was closed for a public holiday.

Bitcoin surges above $22,000

The world's best-known digital currency, Bitcoin, continued its recovery in the new week and most recently climbed around 4 percent above the $22,000 mark.

Bitcoin has gained more than 12 percent within a week.

The cryptocurrency Ethereum also increased significantly on Monday.

However, the cryptocurrency has been under pressure since the beginning of the year.

Bitcoin reached a record high of $69,000 in November last year.

Sentiment on the oil market remains tense

Oil prices rose in early trade on Monday.

In the morning, a barrel (159 liters) of North Sea Brent cost US$ 101.80.

That was 64 cents more than the day before.

The price of a barrel of the American West Texas Intermediate (WTI) variety rose by 31 cents to $97.9.

Despite the slight price increases, the mood on the oil market remains shaky.

Crude oil prices have mostly fallen in recent weeks.

This was triggered by fears that the global economy could slip into recession.

This would also slow demand for crude oil, gasoline and diesel.

Oil prices are still at a high level.

Compared to the beginning of the year, prices are about 35 percent higher.

The main reason is Russia's war against Ukraine and sanctions against Russia by primarily Western countries.

As a result, the supply of Russian oil has fallen sharply, especially in the western hemisphere.

With news agencies