DAX is one of the most popular indexes in the world. It is listed on the Frankfurt Stock Exchange. Virtually daily there is a very large volatility that gives many trading opportunities.
Summary of the session 29/06/2018
The DAX index recorded an increase during the last June listing of 1.06 per cent. Investors got to know a number of macro data from Germany on Friday, retail sales fell m/m 2.1% while expected was drop by only half a percent, labor market data were better, the unemployment rate was 5.2% and is the lowest in the history of the United Germany .
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Among the components of the DAX index, the best result was recorded by Covestro, which gained 3.69% and Infineon Technologies increased by 2.63%. The worst performer was Continental, dropping 0.81%. There have been reports in the WSJ that Deutsche Bank will not be part of the Euro Stoxx 50, but it did not trigger any drops on the value, at least until now.
On the first session of the month, the stock starts low, after more than 80-pips opening gap, the DAX index found itself on Thursday’s lows, so all the achievements from Friday were lost. Around 12 100 points will probably lead the fastest players to catch the low, but only the exit over 12 170 points will allow you to recover and try to close the gap.
For now, the price is deep below the current direction point, which today is at 12,990 points, while the closest intraday support is already at hand at 12,090. The move towards S3 will almost “exhausts” the average daily reach resulting from ADR.
Today, we will get to know the PMI index for the industry from both Germany and the entire euro area.