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DAX Index Price Forecast – DAX Opens Positive on Return of Risk Appetite in European Market

Germany equities were mixed at the close on Tuesday, as gains in the Food & Beverages, Utilities and Software sectors propelled shares higher while losses in the Technology, Basic Resources and Pharmaceuticals & Healthcare sectors led shares lower. At the close in Frankfurt, the DAX lost 0.13%, while the MDAX index climbed 0.03%, and the TecDAX index declined 0.47%. Declining stocks outnumbered rising ones by 439 to 267 and 70 ended unchanged on the Frankfurt Stock Exchange. The DAX volatility index, which measures the implied volatility of DAX options, was down 0.61% to 16.92. While trade war woes continue to impact bearish influence on global equity market, European equities are moving up as investors focus has shifted from international news to ECB’s policy meet updates.

Trade War Woes Hit New High As China Approached WTO To Impose Sanctions on Washington

Meanwhile, things are proceedings positive in Italian budget talks which seem to be in acceptable levels for EU and this situation has imparted risk appetite to European equity markets. Asian stocks slipped to 14-month lows on Wednesday with investor confidence chilled by the latest round of verbal threats in an intensifying U.S.-China trade conflict. China told the World Trade Organization (WTO) on Tuesday it wanted to impose $7 billion a year in sanctions on the United States in retaliation for Washington’s non-compliance with a ruling in a dispute over U.S. dumping duties. U.S. President Donald Trump told reporters on Tuesday that the United States was taking a tough stance with China. This situation has resulted in key Asian indices closing downtrend for the day.

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However increased risk appetite among equity investors in Europe and positive cues from wall street’s performance yesterday inspired a positive opening of European market during today’s early European market hours.  Dax futures which traded in international market were moving positive ahead of German market hours as well and these factors helped German DAX open positive for the day. DAX index is currently trading positive with 0.15% increase in value. DAX is expected to remain positive across today’s market hours supported by positive market performance on major indices in allied European equity markets while 18 of top 30 stocks in DAX trade positive.

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This article was originally posted on FX Empire

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