DAX index Edge Higher Ahead of Fed Minutes
DAX index trading 1.21% higher at 11,786 as investor’s hope of more stimulus from central banks around the globe. Yesterday the European Monetary Union Consumer Price Index (YoY) came in at 1% missing expectations of 1.1% in July. The German GDP shrank by 0.1% in the second quarter from the previous quarter as expected. Eurozone GDP growth slowed from 0.4% during the first quarter to 0.2% in the Q2, 2019.
DAX index helped by Continental AG +2.45%, Thyssenkrupp AG +2.39%, and RWE AG +1.86%. On the other hand, Fresenius Medical is -0.66% lower while Deutsche Telekom AG is -0.45% lower.
DAX stabilizes above the 200 day moving average and now bulls are in control for the short term. Immediate support for the DAX index stands at 11,655 then at 11,386 the low from March 27th while extra bids will emerge at 11,000 round figure. On the upside immediate resistance stands at 11,813 today’s high and then at 12,106 the 100 day moving average.
In London the FTSE 100 adds 1.02% at 7,198, while CAC 40 is 1.37% higher at 5,417. In Wall Street, Dow Jones futures is 0.61 percent higher at 26,090 while the S&P is 0.70 percent higher at 2,919 while Nasdaq is 0.84% higher at 7,732.