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 22.05.2017
Yesterday we had quite mixed moods on the markets. In Europe there were slight declines and in the United States indices gained due to positive signals from Donald Trump’s visit to the Middle East. Over the weekend USA signed a $350 billion contract to supply weapons to Saudi Arabia. Yesterday Donald Trump visited Israel, and in the following days the US president will visit the Vatican and will also take part in the NATO summit in Brussels and the G7 meeting in Sicily.
Today we may face more declines in Europe than in Monday’s session. Yesterday, probably a terrorist attack occurred at a concert of American pop star in Manchester. The event may have a negative impact on stock market sentiment, at least at the beginning of the session, before we get to know more details.
DAX index closed yesterday’s session with 0.15% decline. The S&P 500 gained 0.52% yesterday and today Nikkei ended the session with -0.33% score. The index is above 12600 points. However its breakthrough may open way for further support around 12400 points.
After opening futures market, DAX index was unable to break the 12600 level. Jumping over pivot point at around 12630 pts will open way to R1 near 12690 points. In turn, broke below 12600 points can provoke movement towards S1 12570 points.
Key data for the DAX index
08:00 – Gross Domestic Product, fin. in Germany
09:30 – PMI Index for industry and services in Germany, ad.
10:00 – Ifo Institute Index
10:00 – PMI Index for industry and services in the Euro Zone