Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5970
    -0.0005 (-0.09%)
     
  • NZD/EUR

    0.5536
    +0.0003 (+0.06%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • ASX 200

    7,896.90
    +77.30 (+0.99%)
     
  • OIL

    83.11
    -0.06 (-0.07%)
     
  • GOLD

    2,254.80
    +16.40 (+0.73%)
     
  • NASDAQ

    18,254.69
    -26.15 (-0.14%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • Dow Jones

    39,807.37
    +47.29 (+0.12%)
     
  • DAX

    18,492.49
    +15.40 (+0.08%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • NIKKEI 225

    40,369.44
    +201.37 (+0.50%)
     
  • NZD/JPY

    90.3330
    -0.0600 (-0.07%)
     

DAX Index Price Forecast – German Market Opens Bullish on Positive Cues from Asian Markets

Germany equities were lower at the close on Friday, as losses in the Construction, Technology and Basic Resources sectors propelled shares lower. At the close in Frankfurt, the DAX fell 0.22%, while the MDAX index fell 0.20%, and the TecDAX index declined 0.25%. Declining stocks outnumbered rising ones by 424 to 277 and 78 ended unchanged on the Frankfurt Stock Exchange. The DAX volatility index, which measures the implied volatility of DAX options, was up 1.52% to 17.95. Later half of last week was positive for DAX as news of possible Sino-U.S. trade related talks helped bring risk appetite back on track giving global equity markets a solid bullish influence. Since trading session began for the day Equity markets have been trading in Green across all key Asian markets hopeful about Sino-U.S talks providing positive influence to European equity market. While the values were neutral, Eurozone CPI data released last week were well in line with market expectations thereby keeping positive market sentiment in tact.

Investors Focus on Italian Budget Updates For Clues on European Market’s Movement For the Week Ahead

European markets which began trading today have so far maintained positive momentum. This was also supported by European futures trading in green in international market. German DAX futures were trading up 0.52% on the day in international exchanges ahead of German market hours which helped German DAX open on positive note. German DAX is currently at 12,268.99 up 0.48% on the day as 23 of 30 stocks trade positive. While early hours may continue to move upwards supported by positive cues from wall street and Chinese markets, forex market is seeing Risk-off sentiment which could soon reflect in equity market over proceedings of Italian budget meet. The latest gunshots fired at the US embassy in Ankara also fueled risk-aversion further.

{alt}
{alt}

However, there seems to be some faint air of optimism on the back of Qatar and Turkey’s central banks signing a currency swap agreement to provide liquidity and support for financial stability according to announcements made by Qatar’s central bank on Sunday.  German market may see bearish influence in later half of today’s trading session as Italy-German 10-year yield spread widened on news of Italy’s populist government considering a ‘Marshall Plan’ of up to EUR 80 billion to revamp the country’s infrastructure after the Genoa bridge collapse which puts Italy in direct conflict with EU and if implemented this would provide high level of bearish influence in both equity and forex market across Europe.

ADVERTISEMENT

This article was originally posted on FX Empire

More From FXEMPIRE: