Monday, 10 July 2017
What’s next? – DAX 10.07.17
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what’s next
DAX
The DAX index futures were 0.55 percent higher on Friday by 08:00 GMT to trade at 12,435 points, with investors’ attention shifting into an upcoming inflation reporter later this week.
As for Germany, the currently week looks quite thin in terms of data releases. Today, the trade balance for May came in at 20.3 billion euros, aligned with expectations by market analysts.
On Thursday, the consumer price index for June will become available as of 06:00 GMT. So far, experts are pointing to a 0.2 percent build.
Inflation performance in Europe’s first economy is a key metric for the European Central Bank, with large influence on monetary policy decisions. Policymakers are now feeling more comfortable with the idea of reducing the bond buying program.
Last week, the index settled in green territory, with utilities, technology and insurance sectors contributing the most to gains. In Frankfurt, the DAX closed at 12,456.87, up 0.55 percent.
On top of the list, RWE AG ST O.N. adding 2.77 percent to end at 17.625, followed by E.ON SE NA up 2.03 percent to 8.243 and Lufthansa AG VNA O.N. soaring 1.28 percent to 20.500.
As for worst performers, Prosiebensat 1 Media AG down 2.06 percent to 34.245. Commerzbank AG O.N. fell 0.80 percent to and Thyssenkrupp AG O.N. dropped 0.80 percent to 25.920.
The DAX seems to be recovering from previous week losses and broke above the 12,400 mark on Friday. Considering the lack of data coming in, we see the DAX consolidating around that level for the time being, at least until new market catalysts hit the market.
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