Monday, 18 September 2017

What’s next? – DAX 18.09.17

Posted by Anonymous at 10:34 Labels:

DAX

The DAX futures traded 0.17 percent lower at 12,527.5 points as of 05:15 GMT on Monday, with geopolitical fears weighing on market sentiment, while traders prepare for a series of monetary policy events later this week.

On the data front, Eurozone wages for the second quarter advanced 2.00 percent, up from a previous reading 1.30 percent. Trade balance for July showed a 23.2 billion euro surplus.

Ahead this week, traders will be paying close attention to several speeches from European Central Bank President Mario Draghi as they try to figure out next steps of the regulator.

In its latest policy gathering, the ECB leader said the quantitive easing program is likely to continue for quite some time, but it will be revised in October.

Today, attention will be directed to the release of August’s consumer inflation in the Eurozone as of 09:00 GMT. The main event of the week will be the September monetary policy meeting of the US Federal Reserve on Wednesday, with expectations for no policy changes.

According to Fed funds tracked by CME Group’s, traders are currently pricing in a 42.5 percent probability of a 25 basis point by December.

The German benchmark dropped 0.17 percent or 21.64 points to end Friday’s in Frankfurt at 12,518.81, with basic resources, food & beverages and utilities weighing on the index.

The best performers of the session were Continental, which added 1.35 percent to 206.95, followed by Deutsche Boerse with a 0.90 percent gain to 93.450 and Daimler rising 0.64 percent to close at 66.250.

The worst performers of the session were Deutsche Bank, which dropped by 1.67 percent to 13.810, Bayer easing 1.43 percent to 110.25 and RWE down 1.13 percent to 20.170.

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