The economic developments as well as the course of euro and DAX Liebe economic and financial market interested, I welcome right welcome to the twenty-eighth issue of my newsletter which is focused on the topics of economic, financial and economic. Many writers such as Facebook offer more in-depth analysis. The month of May was at the stock and foreign exchange market marked a deterioration in mood. While the German stock market in the first half of the month was still quite robust, and only in the second Act, the stock market wisdom of sell in May and go away”came to the fore, marked the development of the European common currency by imposing downward correction since the beginning of the month. The observed declining risk appetite of market participants who developed an increasing momentum in the wake of the simmering debt crisis in Greece, made naturally felt particularly in the foreign exchange market. Investors in the stock market, however, were still good things at the beginning of the month and initially led to a stabilization of the DAX to the brand of 7,500 meters, before the chart image to the middle of the month is considerably clouded up and the leading German stock index lost almost 400 points. As load factor for the European common currency, the ECB Council meeting turned on the May 5, at which ECB President Jean-Claude Trichet signaled a slower rate hike cycle through his choice of words. “Especially refraining from the formulation of strong vigilance” in connection with the price risks was interpreted as a signal, that bankers for the next ECB meeting schedule no interest rate increase in June. The vast majority of financial market players now assumes that the ECB in the fight against the inflation pressure twice will turn in 2011 on the interest rate screw (in the July part-session and at the end of the year). We look first at what is happening on the German stock market: the German Aktienleitindex DAX fought in the month of may at first successful against pessimistic (see above) stock market wisdom, had in the second half of the month but the general deterioration in mood tribute pay.