DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives many trading opportunities.
Session Summary 07.07.2017
On Friday we met data from the US labor market. Positively surprised by the number of non-farm payroll, it amounted to 222 thounsand, with a forecast of 179 thounsand. Slightly lower was the unemployment rate, which stood at 4.4% with a forecast of 4.3%; But this is still the lowest indication in the current business cycle. Low wage pressure still remains, which still can not provide the US economy with a stronger inflationary impulse. Here, also the downward correction of data for May (0.1% from 0.2%) was also noted. In June, the Average Hourly Earnings increased by 0.2% with an estimate of 0.3%. Average Hourly Earnings disappointed, but the creation of at least 75-100 thounsand new jobs every month is necessary to absorb the incoming workers, so this condition has been fulfilled. Stock markets reacted positively to data.
Today the Nikkei index ended the day with 0.84%. On Friday the S&P 500 closed also in positive sessions of 0.64%. Also DAX ended the day above the line, which amounted to 0.05%. The German index set a new record around 12951 points. However, he has not been able to stay on this level for too long. The index is above 12400 points, but it is still only an upward correction of recent strong falls. Descent below 12400 points will open the way to 12200 points. In turn, the nearest level of resistance is around 12600 points.
DAX Intraday
The DAX index broke the R1 level 12450 points, opening the way to R2 near 12480 pts. However, descent below R1 may direct the index towards 12400 points.
Key data for the DAX index
No key data
