(In the second paragraph, a typo was removed.)

FRANKFURT (dpa-AFX) - Investors on the German stock market are holding back on Friday ahead of important US labor market data. Around two hours before the start, the broker IG put the Dax at 20,319 points, barely changed.

In the middle of the week, the German leading index had approached its record high of 20,522 points from mid-December before US President-elect Donald Trump put a damper on the good mood with renewed threatening gestures regarding high import duties for goods from other countries.

In addition to international trade barriers, high import duties could also fuel inflation in the US, forcing the US Federal Reserve to take a more cautious monetary policy course or even raise interest rates.

However, the monthly US labor market report at 2:30 p.m. Central European Time will be important for monetary policy this Friday.