Thursday, 28 September 2017
What’s next? – DAX 28.09.17
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what’s next
DAX
The DAX futures traded 0.64 percent higher at 12,664.5 points as of 05:05 GMT on Thursday, with market players looking ahead to the release of fresh economic data.
The GfK German consumer climate index for October is due for release as of 06:00 GMT, with a 11.0 reading eyed, a tick higher than the previous month 10.9.
Germany’s consumer price index for September is also on schedule. The index will be out at 12:00 GMT, with a 0.1 percent increase seen.
In the US session, attention will be directed to the second quarter gross domestic product, August’s goods trade figures and initial jobless claims. All of them will be up at 12:30 GMT.
The German benchmark settled in green territory on Wednesday in Frankfurt at 12,657.41, adding 0.41 percent, with industrials, technology and construction pushing upwards, while media, financials and food & beverages capped gains.
The best performers of the session were Lufthansa, which increased 3.30 percent to 23.655, Commerzbank rising 2.92 percent to 11.455 and Deutsche Bank up 2.72 percent to 13.995.
The worst performers of the session were Vonovia, with a 1.52 percent loss to end at 35.70, Beiersdorf falling 1.00 percent to 91.090 and Fresenius easing 0.63 percent to 67.500.
The DAX has broken above the 12,600 mark and there is clear room for growth. However, we could expect short term pullbacks that would allow other investors to increase long positioning.
Eventually we would be facing the 13,000 level, but before there should be a solid movement above the 12,750 level, which at the time serves as a strong resistance zone.
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