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Colin First
DAX Thursday
DAX Thursday

The DAX index has been trading higher over the last few days on the back of an improvement in the risk sentiment all across the globe and the same was seen in the markets yesterday as well as the index managed to close the day higher than where it began. It helped that the incoming data from the US turned out to be weaker overall which helped the US stock indices to also move higher.

DAX Remains Well Bid

Yesterday, we had the GDP and the CPI data being released from Germany and both came in as per expectations. This would have helped to soothe the nerves of the market as the traders would have been happy that the geopolitical tensions that were being seen over the last few weeks, were not affecting the economic data and that the Germany economy continues to throw up some strong numbers. This did not have too much of an impact on the index but it did help to build the underlying strength for the move higher.

DAX Hourly

Then came along the retail sales data and the CPI data from the US and though it did not have a direct impact on the DAX, the fact that the data was mixed sent the dollar lower and the stock indexes in the US higher. As we have been saying in many of our forecasts, the major stock markets usually tend to move in tandem and the good news in one affects the other and vice versa as well. Hence, this move higher in the US stock indexes helped to buoy the DAX as well and it helped the index to move through the 12400 region in a slow and steady manner.

Looking ahead to the rest of the day, we do not have any major news from the Germany or the Eurozone for the day but we expect the index to be well supported and have a strong and steady opening which should help it to move higher during the course of the day.

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