Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,168.07
    -594.66 (-1.46%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,753.34
    +1,725.02 (+2.50%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,251.69
    +3.20 (+0.06%)
     
  • Dow

    39,770.03
    +9.95 (+0.03%)
     
  • Nasdaq

    16,380.68
    -18.85 (-0.11%)
     
  • Gold

    2,240.00
    +27.30 (+1.23%)
     
  • Crude Oil

    82.87
    +1.52 (+1.87%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,530.60
    -7.82 (-0.51%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

DAX Index Price Forecast – DAX to Trade Positive Supported by Hawkish EURO & Weak USD in Broad Market

Germany equities were lower at the close on Monday, as losses in the Food & Beverages, Consumer & Cyclical and Software sectors propelled shares lower. At the close in Frankfurt, the DAX declined 0.23%, while the MDAX index lost 0.22%, and the TecDAX index lost 0.23%. Declining stocks outnumbered rising ones by 369 to 317 and 96 ended unchanged on the Frankfurt Stock Exchange. The DAX volatility index, which measures the implied volatility of DAX options, was up 4.20% to 15.40. European equity markets closed downtrend on Monday as investors took on cautious note while awaiting news on announcement from US over tariff on Chinese goods. Asian shares fell and copper prices eased on Tuesday after Washington announced new tariffs on Chinese imports, inflaming trade tensions between the world’s two biggest economies.

Equity Markets Trade Positive Despite Announcement of US Tariffs on Chinese Goods

Wall Street closed red on Monday over announcement of tariff on Chinese goods. U.S. President Donald Trump imposed 10 percent tariffs on about $200 billion worth of Chinese imports, and warned of tariffs on more goods if China took any retaliatory action. Analysts and investors are now of opinion that there is going to be a prolonged period of risk off sentiment in market as tariff announcements from USA dashed hopes of any trade negotiations between two rivals. While Asian shares fell in morning, the overall performance was mixed as Japan and Chinese markets were positive for majority of Asian session while Singapore market took a steep fall. US Greenback has been losing ground in broad market in Tuesday and this has resulted in major global currencies trading positive.

{alt}
{alt}

DAX futures in international market was trading up ahead of European market opening and was seen trading with gains over 0.60% in mid Asian market hours. The sell-off surrounding US Greenback and positive Euro are expected to support DAX during today’s market hours and DAX index is expected to open positive for the day. Moving Ahead investors are focusing on ECB Draghi’s speech. DAX could remain positive across the day in case European Central Bank President Draghi downplays the trade tensions and reiterates that the QE program will likely end in December.

ADVERTISEMENT

This article was originally posted on FX Empire

More From FXEMPIRE: