Vi bruker en rekke cookies for å forsikre oss om at du får den beste brukeropplevelsen. Ved kontinuerlig bruk av denne nettsiden, godtar du bruken vår av cookies. Du kan lese mer om policyen vår for cookies her, eller ved å følge linken nederst på alle sidene på nettstedet vårt.
There is a scarcity of economic data due out today, and client sentiment is undecided. The DAX has dropped over 300 points so far this month (as of mid-morning) and will need to show some real resilience if it is to have any sort of seasonal rally. IG clients are currently 51% short of the German index; a sentiment that has been prevalent throughout the month.
The biggest issues to negatively affect Germany remain outside their own borders. Worries over France’s ability to keep on the right side of the recovery/recession divide continue to hover over the EU and, regardless of how positive European Central Bank president Mario Draghi’s outlook might be, the figures don’t lie.
The broader economic picture will also become a lot clearer in the coming days, as soundbites from both Democrats and Republicans over the US budget could give reason to believe that an agreement may be reached ahead of the next deadline. In the coming days the US Federal Reserve will announce whether it will reduce the current debt purchasing scheme or wait until some time in the new year.
Until these bigger US issues have been resolved, any stance taken on the German index should be done with the mindset that they are then likely to trigger a noticeable move in the markets. In the meantime any short-term break below the 9060 level could signal further falls.