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 11.07.2017
Investors in the US stock markets, but also in Europe, await Janet Yellen’s speech today, which will present a six-monthly monetary policy report for both US Congress on Wednesday and Thursday. However, there is no expectation of a breakthrough in FOMC rhetoric. Federal Reserve will continue to maintain the need for raising interest rates and reducing its balance sheet total, but everything will depend on the economic situation in the US.
The market is increasingly boldly voiced about the possible tightening of monetary policy by the ECB. Last weekend some of the representatives spoke on this topic, although we have to admit that the sentences were different. However, one has to ask whether these different voices are a well-thought-out strategy, so as not to frighten the markets.
Today, the Nikkei index ended the day with -0.48%. Yesterday the S&P 500 closed at a small minus of -0.08%. Also DAX ended the day under the line, which amounted to -0.07%. 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 remains above 12400 points, but it is still only an upward correction of recent strong declines. Descent below 12400 points will open the way to 12200 points. In turn, the nearest level of resistance is around 12600 points.
The DAX Index, after the opening of the cash market index, moved towards the pivot point at around 12480 points. Breaking this area will move you towards R1 near 12550 points. In turn, descent below today’s minima around 12450 points it will open the way to S1 near 12425 points.
Key data for the DAX index
11:00 – Industrial production in Eurozone
16:00 – Fed Chair Yellen Testifies