Thursday, 21 September 2017

What’s next? – DAX 21.09.17

Posted by Valentine at 11:33 Labels:

DAX

The DAX futures traded 0.61 percent higher at 12,627.0 points as of 05:55 GMT on Thursday, with investors looking ahead to a speech from ECB President Mario Draghi later in the day.

Market participants will also be keeping an eye on the release of ECB’s economic bulletin as of 08:00 GMT. The regulator’s leader is set to speak at 13:30 GMT.

Trades will closely monitor his speech in search for further guidance on the future of monetary policy, as Draghi has promised a revision of the bank’s stimulus program next month.

Yesterday, the German producer price index showed a 0.2 percent increase in August, compared to 0.1 percent build seen.

In the United States, today’s economic agenda includes the latest initial jobless claims count at 12:30 GMT and the Philadelphia Fed manufacturing index for September by the same hour.

Stock markets on Wednesday were cautious ahead of the Federal Reserve monetary announcement. As expected, the US regulator left its short term interest rate unchanged in a range between 1 percent and 1.25 percent.

The central bank said it will start reducing its massive balance sheet in October. Also, it insisted on the fact that one rate hike is still likely to take place by the end of 2017.

The German benchmark closed higher in Frankfurt on Wednesday, adding 0.06 percent or 7.38 points to 12,569.17, with telecoms, utilities and basic resources contributing most gains, while food & beverages, pharmaceuticals & healthcare and technology pushed to the downside.

The best performers of the session were RWE, which added 3.32 percent to 20.835, followed by E.ON rising 2.77 percent to 9.462 and Linde up 2.49 percent to 166.40.

The worst performers of the session were Deutsche Bank easing 1.67 percent to 13.57, Infineon Technologies down 1.34 percent to 20.575 and Fresenius falling 1.33 percent to 68.75.

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