DAX 30 Fundamental Forecast – August 31. 2016

By:

Updated: Aug 30, 2016, 13:34 UTC

The DAX 30 added 109 points to 10653.50 as the EU tax decision against Apple and Ireland might be a positive for European stocks. The executive arm of the

DAX 30 Fundamental Forecast – August 31. 2016

The DAX 30 added 109 points to 10653.50 as the EU tax decision against Apple and Ireland might be a positive for European stocks. The executive arm of the European Union Tuesday concluded that Ireland granted undue tax benefits to the U.S. tech giant, which is illegal under EU state aid rules, allowing Apple to pay an effective corporate tax rate of 1 per cent on its European profits in 2003 down to 0.005 per cent in 2014. It is also continuing to investigate Amazon and McDonalds’ European tax affairs, EU Commissioner Margrethe Vestager told reporters.

Free trade talks between the European Union and the United States have failed, Germany’s economy minister said Sunday, citing a lack of progress on any of the major sections of the long-running negotiations.

Both Washington and Brussels have pushed for a deal by the end of the year, despite strong misgivings among some EU member states over the Trans-Atlantic Trade and Investment Partnership, or TTIP.

Sigmar Gabriel, who is also Germany’s Vice Chancellor, compared the TTIP negotiations unfavorably with a free trade deal forged between the 28-nation EU and Canada, which he said was fairer for both sides.

Germany has told its citizens to stock up on water and food in the event of a terrorist attack or national catastrophe and may even consider re-introducing conscription in its first overhaul of civil defenses in two decades.

Chancellor Angela Merkel’s cabinet approved the 70-page plan at a time when Germans are particularly on edge after two Islamist attacks in July and several much larger-scale attacks in France and Belgium this year.

FxEmpire provides a wide variety of analysis on a daily, weekly and monthly basis ranging from our exceptional technical analysis as well as our in-depth fundamental analysis along with our daily news and market updates. To get the best understanding of each asset it is important to review the short term daily analysis with the longer term monthly reports. To get email notification when each of these are posted please sign up for our daily newsletter.

Upcoming Economic Events that you should be monitoring:

August 31, 2016

Country	Event	Volatility	Previous
GBP	Gfk Consumer Confidence	2	-12
JPY	Industrial Production	2	-1.5
JPY	Industrial Production	2	2.3
AUD	HIA New Home Sales	2	8.2
CHF	UBS Consumption Indicator	2	1.34
EUR	Unemployment Rate s.a.	3	6.1
EUR	Unemployment Change	3	-7
EUR	Unemployment	2	11.6
EUR	Unemployment Rate	2	10.1
EUR	Consumer Price Index	3	0.2
EUR	Consumer Price Index – Core	3	0.9
USD	ADP Employment Change	2	179
CAD	Gross Domestic Product Annualized	2	2.4
CAD	Gross Domestic Product	2	-0.6
USD	Chicago Purchasing Managers’ Index	2	55.8
USD	Pending Home Sales	2	1
USD	Pending Home Sales	2	0.2