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 06.07.2017

The first Friday of the month means that today we have published the most important macroeconomic data, it means the report on the American labour market. Yesterday we had a foretaste of official data. In an ADP report published, it turned out that in June 158 thousand work places increase. Market forecasts estimated an increase of 188 thousand places. Disappointment with the ADP report has led to a decline in US stock markets, but also in Europe.

Europe’s stock markets also did not help yesterday’s minutes of the ECB’s last meeting. It follows that the Governing Council of the European Central Bank discussed in June on the possibility of abandoning the extension of the QE Asset Acquisition Program. In addition, in June the Governing Council of the ECB removed from the forward guidance the formulation of the possibility of lowering interest rates and raised the assessment of the risk balance for growth in the euro area to neutral.

Today morning Nikkei ended the day with -0.27%. The S&P 500 closed also down 0.94%. Also DAX ended the day under the line, which amounted to 0.58%. The German index set a new record around 12951 points. However, he has not been able to stay on this level for too long. Last Thursday and Friday index fell sharply, stopping just around the support area of 12400 points. At the beginning of the week, the index was above 12400 points, but it was only an upward correction of recent strong falls. Yesterday DAX fell below 12400 points, which opens the way to 12200 points.

DAX Intraday

The DAX index after the opening of the futures market is heading towards the pivot point at around 12400 pts. Breaking this level will open the way to R1 near 12460 points. In turn, descent below today’s minima around 12340 points will open the way to S1 12280 points.

Key data for the DAX index

14:30 – US Non-Farm Employment Change

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