DAX is one of the most popular indices in the world. It is listed on the Frankfurt Stock Exchange. Virtually every day there is very high volatility which gives ample of trading opportunity.
Session summary 02.02.2017
Thursday brought calming down and profit-taking after a very high growth, which we saw on Wednesday. Yesterday’s better data on import prices in Germany and PPI prices in the euro zone rather have had little impact on the market. Greater impact may have falling once again, retail sales in Germany. This morning were published data, which show that the decline was -0.8% (m/m),compared to forecast of 0.2%.
DAX Index fell yesterday- 0.06%, the S&P500 – 0.59, and this morning the Japanese Nikkei index ended the session on minus 0.49%. Today we should have a quiet session due to the expected speech of Janet Yellen, to be held at 18 GMT.
DAX index remained above important support at around 12,000 points. Its break can bring the course to around 11900 points.
DAX Intraday
Index after opening the futures market is still teetering around the level of 12,000 points. Breaking morning lows in the vicinity of 11990 points should bring index in around 11965 points. In turn, breaking the S1 in the vicinity of 11220 points will be a signal to a move toward the pivot point 12050 pts.
Key data for DAX
11:00 – Retail sales in the euro zone
19:00 – Public Statement by Fed chairman (Janet L. Yellen)
