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 15.06.2017
On Thursday investors were digesting the Federal Reserve’s decision on interest rates. The FOMC has raised the target range for federal funds to 1.00-1.25%. The communication states that economic conditions justify gradual increases in interest rates. This is the second increase this year. In addition, a reduction of the balance sheet for treasury securities was set at $ 6 billion per month, and the limit is to be increased every three months by $ 6 billion over 12 months to $ 30 billion per month. MBS is set at $ 4 billion and is also expected to increase quarterly until it reaches $ 20 billion. The reduction is expected to start this year, as long as the US economy continues to grow in line with FOMC’s forecasts.
Also on Thursday a meeting of the Swiss National Bank (SNB) and the Bank of England (BoE) took place. In both cases, the monetary policy parameters have not been changed. SNB kept the interest rate at a record low, minus 0.75%. The BoE rate was kept at 0.25%.
Yesterday the Nikkei index lost 0.26%. The DAX index was down 0.89%, the S&P 500 ended the day with -0.22%, and the NASDAQ Composite technology -0.47%. The German index set a new record on Wednesday at 12,921 points. However, we did not manage to stay on this level and yesterday we saw a strong correction towards support at around 12,600 points. Breaking this level will open the way to 12,400 points. In turn, the exit above the resistance level of 12800 points. it can provoke movement towards new historical levels.
DAX Intraday
After opening the futures market, the index broke the pivot point around 12715 points, which opened the way to 12800 points. In turn, descending below the pivot point may cause movement to S1 support near 12600 points.
Key data for the DAX index
No key data
