DAX is one of the most popular indices in the world. It is listed on Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives ample of trading opportunity.


Session Summary 23.03.2017

Yesterday’s session on the Frankfurt stock can be seen as a successful one. The DAX index increased by 1.14%. Good mood has ensured by ECB, which has lent to European banks approximately TLB 23 billion in TLTRO operations- twice as much as the market expected. TLTRO loans granted to banks have zero interest rates and may even fall to the deposit rate, ie -0.4%. In the US, some worse moods due to the postponed vote on the Health Reform Act. The abolition of the so-called Obamacare is a condition for lowering taxes in the United States on which market participants count on. The S&P 500 ended the session slightly on minus -0.11%. Bad sentiment in the US did not translate into the Tokio stock market, which managed to lead the Nikkei up 0.93%.

The DAX index jumped above 12,000 points, which is a good sign for bulls. The next level of resistance is around 12200 points. Today we can have quite a quiet sessions due to a rather poor macroeconomic calendar and the end of the week.

DAX Intraday

Index after opening the futures market failed to approach R1 resistance near 12070 points. Only breaking this level will open the way to R2 around 12130 points. In turn, the breaking of today’s minima near 12030 points. May cause slide to round 12000 points.

Key data for DAX

09:30 – PMI Index for industry, ad. For Germany
09:30 – PMI – Services Index, Introduction For Germany
10:00 – PMI Index for industry, ad. For the euro area
10:00 – PMI – Services Index, Introduction. For the euro area

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