Friday, 29 September 2017
What’s next? – DAX 29.09.17
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what’s next
DAX
The DAX futures traded 0.45 percent higher at 12,708.5 points as of 05:25 GMT on Friday, with market participants looking ahead to a speech from ECB President Mario Draghi, while continuing to digest up economic reports from Europe.
The GfK consumer climate for October notched down to 10.8, falling short from an initially estimated 11.0 reading. In a separate report, the German consumer price index came in line with market expectations at 0.1 percent.
Ahead in today’s session, attention will be directed to the releases of retail sales for August as of 06:00 GMT, with a 0.5 percent eyed. The unemployment rate is up at 07:55 GMT.
Traders will also be monitoring a conversation between the European Central Bank President Mario Draghi and the Bank of England Governor Mark Carney, which is set at 14:15 GMT.
Draghi is a strong defendant of monetary policy stimulus and it’s expected to channel his rhetoric in that line for the time being. However, the ECB chief has recently shown openness to revise the quantitative easing program as the bloc’s economy continues to improve.
Inflation in the euro zone is scheduled for release at 09:00 GMT. The consumer price index for September is seen showing a 1.6 percent build.
The DAX settled 0.37 percent or 47.24 points higher on Thursday in Frankfurt, closing at 12,704.65 points with basic resources, retail and food & beverages pushing upwards.
The best performers of the session were Deutsche Bank adding 2.68 percent to 14.370, Linde rising 2.37 percent to 174.70 and Fresenius Medical Care up 1.66 percent to 82.670.
The worst performers of the session were Merck easing 2.74 percent to 97.31, Volkswagen falling 1.67 percent to 138.35 and Commerzbank down 1.00 percent to 11.340.
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