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DAX Friday
DAX Friday

The DAX index continued to rise higher during the last 24 hours, basically following up from the rise that it had on the day earlier. The index has been buoyed by the general improvement in the risk sentiment across the globe and just as seen in the other stock markets, we can see the risk sentiment getting better in Europe as well.

DAX In Range

Yesterday, there was the release of the inflation data which came in better than expected and it helped to boost the DAX even further. The index pushed through the 13200 region and closed the day just below the 13300 region and looking buoyant for much of the day. We also had some of the ECB members looking to tone down their hawkishness over the incoming data and the closure of the QE by the end of the year in a bid to avoid any crash in the market as the stoppage of QE is likely to be bearish for the stock markets in Europe.

DAX Hourly

Also, it is generally expected that the meeting of the ECB next week is also likely to tone done the talk surrounding the gradual shift in policy that it had been talking about in its last meeting and that it would not add much new during this meeting. So, we should expect the consolidation and the ranging to continue during the short term though it is expected that the volatility should pick up as we get towards the end of the month and closer to the ECB meeting.

Looking ahead to the rest of the day, we do not have any major news from Germany or the Eurozone and so we can safely expect some more consolidation between 12200 and 12400 for the rest of the day.

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