Yahoo Finance DAX Index Daily Price Forecast – DAX Likely To Continue Positive Movement
Germany equities were mixed at the close on Monday, as gains in the Telecoms, Pharmaceuticals & Healthcare and Consumer & Cyclical sectors propelled shares higher while losses in the Food & Beverages, Retail and Industrials sectors led shares lower. At the close in Frankfurt, the DAX gained 0.78%, while the MDAX index lost 0.51%, and the TecDAX index gained 0.13%. Advancing stocks outnumbered falling ones by 378 to 333 and 62 ended unchanged on the Frankfurt Stock Exchange. The DAX volatility index, which measures the implied volatility of DAX options, was down 4.09% to 19.95. Despite German market opening dovish for the day, the DAX index picked up positive momentum supported by rise in German government bond yields and positive momentum of shared currency during European market hours.
Overseas Markets & Geo-Political Events Provide Dovish Cues To European markets
Asian stocks rose modestly on Tuesday, gaining a firmer footing after a week of heavy losses, although increasing tensions between Saudi Arabia and the West have fanned geopolitical concerns and capped gains. However late Asian market sees a different picture painted as key indices from major markets such as Singapore, China & Hong Kong were trading in red while indices from Japanese and Indian markets were trading positive. The negative outcome in Chinese, Hong Kong and Singapore equities could be viewed as influence from Wall Street which took a bearish plunge yesterday owing to increasing tension between west and Saudi Arabia.
The shared currency has so far maintained a neutral stance with slight bearish incline in broad market. DAX futures trading in international market is trading positive ahead of European market hours indicating that German equities could open positive despite bearish performance of allied international market owing to overnight cues from Wall Street. DAX Futures was up by 0.41% ahead of Frankfurt market opening. However there is a small chance that DAX index could see some sideways momentum during today’s market hours as EURO has turned neutral amid geo-political tensions and cues from foreign markets.
This article was originally posted on FX Empire
