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 14.07.2017
Week of stock markets ended very well, especially in the USA. For better moods responds Janet Yellen, who presented the inflation report in front of the House of Representatives on Wednesday, and the Senate on Thursday. Investors in the United States and in Europe have received Chair of the Federal Reserve as dovish. Yellen reiterated yesterday that the Fed plans to reduce its balance sheet balance in a “slow and gradual” way. In the same way interest rate hikes are to be made.
For the stock markets in Europe, the European Central Bank meeting will be very important this Thursday. The future of the program QE will be a key issue. Recent ECB representatives and Mario Draghi himself signaled a possible change in monetary policy parameters due to the improving economic situation in the euro area and the world. Later, these words were a bit softened, but it can not be hidden that certain markets are being prepared for a change of monetary policy, at least that is how it looks.
In Japan we have a day off due to Ocean Day. On Friday, the S&P 500 closed the session with a gain of 0.47% and established a new historical level around 2463 points. DAX ended the day with -0.08%. The German index was established on 20 June this year. Historical maxima around 12951 pts. However, he has not been able to stay on this level for too long. However, after a strong downward correction, which ended slightly below 12400 points, the index managed to recover above the resistance level of around 12600 points, which opened the way to 12800 points. In addition, a hammer formation at around 12600 points was posted on the daily chart, which also confirms the advantage of demand in this area.
DAX Intraday
The DAX index is around the pivot point of 12630 points. Breaking this area will open the way to 12600 points. In turn its defense can provoke move towards S1 near 12680 points.
Key data for the DAX index
11:00 – Eurozone final CPI y/y
