DAX Index started the week with a gap up amid growing optimism over a trade deal between the two biggest economies after Wilbur Ross; the Commerce Secretary said that licenses for US companies to do business with Huawei Technologies would be coming very shortly. Traders digest the third interest rate cut by Fed and better factory activity in China which expanded at its fastest pace since February 2017 as the Caixin Manufacturing PMI came in at 51.7, topping expectations of 51 in October and 51.4 reading in September. Earlier the Germany Manufacturing PMI registered at 42.1 topping expectations of 41.9 in October. The European Monetary Union Markit Manufacturing PMI came in at 45.9 beating expectations of 45.7 in October.
On the Brexit front, Great Britain heads to the general election in December that increases the uncertainty for the short term but might clarify the political situation for 2020.
DAX bullish momentum holds well with small daily corrections making lower lows and higher highs as the Dax benchmark trades above all major daily moving averages and inside the ascending channel which started back in December 2018.