Guten Morgen DAX 09.06.2017

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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 08.06.2017

Yesterday the European Central Bank did not change its interest rates and left the QE program at the same level. Governing Council expects that monetary policy parameters will remain at current levels throughout 2017. ECB notes favorable prospects for GDP growth and inflation. This provides a forum for discussion about curbing the QE program from 2018. The bank resigned yesterday from further cuts in interest rates. In yesterday’s session you can find hawkish voices, although they did not support the Euro and did not frighten investors on the stock markets.

Yesterday we had snap elections in UK. Official results are due to be announced this afternoon. Exit poll results for BBC, ITV and Sky News show that the ruling Conservative Party won, but won fewer votes than in previous elections. According to unofficial results, Theresa May won 317 seats at 650 in the House of Commons, making it impossible for her to rule independently if unofficial results were confirmed. In previous election Conservative Party won 330 seats. Elections were supposed to strengthen the position of the prime minister in negotiation regarding leaving EU and weaken the followers of the so-called hard Brexit. So far, we can see that this art may fail. Since morning pound is losing heavily. FTSE futures also opened with a bearish gap, but have already recovered all the losses. Investors on stock markets may expect that in such a situation, more stimulus will be needed through monetary policy, but this is pure speculation.

Yesterday morning Nikkei closed session with -0.38%. The DAX index was down 0.32% and the S&P 500 gained slightly, exactly 0.03%. German index has reversed from its historical maxima of around 12878 points. And headed for support near 12,600 points which stopped supply and again we can return to around 12800 points.

DAX Intraday

Upon opening of the futures market, DAX index is between a pivot point level of around 12720 points and a support of S1 near 12700 points. Breaking pivot point level will allow DAX move towards resistance R1 12760 points. In turn, falling below S1 may open the way to S2 support around 12650 points.

The post Guten Morgen DAX 09.06.2017 appeared first on Forex News, Analysis, Charts and Forex Brokers |comparic.com.


Source: Comp
Guten Morgen DAX 09.06.2017

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