Thursday, 7 September 2017
What’s next? – DAX 07.09.17
DAX
The DAX futures traded 0.50 percent higher at 12,279.5 points as of 08:00 GMT on Thursday, as market players looked ahead to a new ECB monetary meeting later in the day.
Earlier in the day, Germany’s industrial production came in unchanged for July, below expectations for a 0.6 percent increase but better than a previous 1.1 percent decline.
The euro zone is also due to release a revision of its second-quarter gross domestic product as of 09:00 GMT. Analysts are not expecting any changes to the current 2.2 percent yearly growth rate and the 0.6 percent quarterly increase.
The European Central Bank will announce its monetary policy decision at 11:45 GMT, with the short-term interest rate seen at 0.00 percent and the deposit facility rate at -0.40 percent.
ECB President Mario Draghi is scheduled to speak at 12:30 GMT. Traders will be paying close attention to his words in search for hints on future monetary policy adjustments.
The German benchmark ended 0.75 percent higher on Wednesday, with chemicals, consumer & cyclical and food & beverages contributing most gains.
The best performers of the session were Daimler adding 3.17 percent to 64.400, followed by Volkswagen rising 1.63 percent to 131.20 and BMW up 1.57 percent to finish at 81.760.
Among worst performers were E.ON falling 1.47 percent to 9.398, followed by Thyssenkrupp easing 0.34 percent to 25.065 and Heidelbergcement down 0.28 percent to 80.920.
Considering that no policy announcements are expected in this month’s encounter, it is likely the DAX will stay in consolidation in a range between 12,000 and 12,350.
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