Exchange Rates: Currency fluctuations between the Euro (BNQL.XETRA's trading currency) and other currencies impact its attractiveness to international investors.

Market Sentiment: Overall investor confidence and risk appetite within the European and global markets influence demand for exchange-traded funds (ETFs) like BNQL.XETRA.

Underlying Asset Performance: The performance of the assets held within the BNQL.XETRA fund (likely a basket of investments tracking a specific index or strategy) directly drives its price.

Supply and Demand: Basic economic principles of supply and demand within the exchange-traded fund (ETF) market itself affect BNQL.XETRA's price. Increased buying pressure pushes prices up, and increased selling pressure pushes prices down.

Economic Indicators: Macroeconomic factors such as inflation rates, interest rates, and GDP growth in relevant economies can influence investor decisions and thus affect BNQL.XETRA's price.

Competitive Landscape: The presence and performance of similar ETFs offering comparable investment strategies may impact the demand for BNQL.XETRA.

Fund Management Fees: Expense ratios and other fees associated with managing the BNQL.XETRA fund can influence its attractiveness to investors compared to alternatives.

Regulatory Changes: Changes in regulations governing ETFs or the underlying assets they hold can affect investor sentiment and, consequently, BNQL.XETRA's price.

Geopolitical Events: Unexpected political events, global conflicts, or significant policy changes can create market uncertainty and influence investor behavior concerning BNQL.XETRA.