DAX futures rebound but it might reopen below key levels
Yesterday the DAX came very close to breaking below its 200 day moving average for the first time this year. In the event that level capped the downside again. It was in place yesterday at 15,543. The low seen was set at 15,548. 69. The index later closed at 15,571.86, with a loss of 209 points on the day. The worst performer was once again the CAC 40, which lost 1.59% on the session. The FTSE handed back 0.69%, despite the BOE keeping rates on hold at 5.25%. However, after the European close, as the US markets tanked, the DAX futures took a hit and that saw the implied opening price for today drop well below 15,543, to as low as 15,460 at one stage earlier today. The index future has rebounded since then, but right now it is priced to reopen below that 200 day moving average. That is not to say it will and we shall have to wait and see on that in the next 40 minutes. As to whether it will and what it does, if that happens remains to be seen. The DAX is just now priced to reopen at around 15,520
Market News
All News-
DAX has a look above 16,500 and takes one step closer to a new record
Following on from a series of updates this week and last, the DAX has taken one step close to a new record high this afternoon. The DAX has lifted...
-
Dow Jones and Nasdaq flips positions as yields fall and tech rebounds
Ever since the opening for the US stock markets today we have seen a reversal in the divergence between the Nasdaq 100 and the Dow Jones, That is to...
-
GBP/USD takes out double bottom at 1.2604 but rebounds on JOLTS data
Not long before the US economic releases this afternoon, the GBP/USD made a brief move below the noted 1.2604 double bottom on the daily charts. The...