Friday, 6 October 2017

What’s next? – DAX 06.10.17

Posted by Valentine at 11:46 Labels:

DAX

The DAX futures were trading 0.08 percent higher at 12,965.0 as of 08:20 GMT on Friday, with upbeat economic data setting the tone as traders await labor data in the US.

Factory orders in Germany increased by 3.6 percent in August, against an initially estimated 0.7 percent build and a previous month reduction of 0.4 percent.

Ahead in the day, attention will be directed the release of September employment figures in the United States, including average hourly earnings, the unemployment rate and nonfarm payrolls.

Yesterday, investors listened carefully to remarks of ECB executive Benoît Coeuré, who said the euro exchange rate does not weigh on economic growth as before.

“Compared with past demand shocks, policy will remain more accommodative for longer, thereby likely muting further the pass-through of any growth-driven exchange rate appreciation,” Coeuré stated in a speech in Frankfurt.

The European Central Bank is expected to revise its quantitative easing program in the near future as sustainable inflation and economic growth continue to support the case for monetary policy tightening, despite ECB authorities still believe it’s too early.

The German benchmark ended at 12,968.05 easing 2.47 points or 0.02 percent, with healthcare, logistics and technology components pushing to the downside.

The best performers of the session were Deutsche Bank, which added 2.44 percent 14.700, Commerzbank rising 2.24 percent to 11.640 and Muench. Rueckvers. growing 1.21 percent to end the day at 183.85.

The worst performers of the session were Infineon Technologies, with a 1.93 percent loss that sent stocks to 21.600, Fresenius Medical Care falling 1.85 percent to 83.640 and Deutsche Lufthansa declining 1.74 percent to 24.245.

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