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DAX Index Daily Price Forecast – DAX Likely To Erase Previous Session’s Gains Owing to Bearish Cues from International Market

Dax to take dovish price action today owing to risk off investor sentiment induced by bearish cues from overseas markets.
Colin First
DAX Friday
DAX Friday

Germany equities were higher at the close on Thursday, as gains in the Construction, Consumer & Cyclical and Industrials sectors propelled shares higher. At the close in Frankfurt, the DAX gained 1.03%, while the MDAX index climbed 1.66%, and the TecDAX index climbed 0.82%. Advancing stocks outnumbered falling ones by 407 to 303 and 67 ended unchanged on the Frankfurt Stock Exchange. The DAX volatility index, which measures the implied volatility of DAX options, was up 2.60% to 22.12 a new 6-month high. European equities saw mixed performance yesterday owing to influence from ECB update which mentioned that QE program is going to proceed as per schedule despite Italian crisis and economic slowdown owing to geo-political issues.

Risk off Investor Sentiment Is Likely Influence Bearish Price Action in DAX

Asian shares slipped again on Friday morning, deepening this week’s markets rout, after disappointing results from Alphabet Inc and Amazon.com heightened concerns over the outlook for U.S. corporate earnings, global trade and economic growth. Chinese shares have been hit by volatility this week amid a string of official announcements and measures aimed at supporting the markets following a recent plunge. The heavy sell-off has raised concerns about risks posed by about $620 billion worth of shares pledged for loans. Financial markets have been whipsawed in recent sessions on concerns over global growth as investors fretted over Sino-U.S. trade frictions, a mixed bag of U.S. corporate earnings, Federal Reserve rate hikes and Italian budget woes. A slowdown in China has been particularly worrying for policy makers and investors, hitting asset markets from stocks to currencies and commodities.

European markets are expected to take bearish turn today owing to increase in risk off market sentiment following bearish rout in Wall Street during North American market session last night. The common currency EURO which is trading global markets has been trading flat against US Greenback in Asian market hours. DAX futures trading in international market ahead of London market hours was trading bearish with over 1.30% decline in value indicating possibility for bearish price action in German stock market today. DAX is likely to open bearish and maintain downtrend move across the day with possibility for decline over 1% in value at E.O.D.

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