DAX Index Higher Ahead of ECB meeting

DAX index trading 0.76% higher at 12,361 despite IfW and DIW research institutes lowered forecasts about the German economy.  Investors concerns around no-deal Brexit ease and US and China trade negotiators have agreed to restart talks in early October. Traders await the ECB meeting tomorrow with expectations of a rate cut and further stimulus.

DAX continues north for sixth consecutive trading session making fresh six week highs, as the price breached above all major daily moving averages. Bulls are in control facing now the immediate resistance at 12,394 today’s high and then at 12,400 the high from July 30. On the downside, immediate support for the DAX index stands at 12,317 today’s low and then at 12,109 the 100-day moving average, while extra bids will emerge at 11,852 the low from August 30.

In London the FTSE 100 adds 0.96% at 7,337, while CAC 40 is 0.45% higher at 5,617. In Wall Street, Dow Jones futures is 0.11 per cent higher at 26,924, the S&P is 0.07 per cent higher at 2,980 while Nasdaq is 0.09% higher at 7,821.

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DAX Index Higher Ahead of ECB meeting
DAX Index Higher Ahead of ECB meeting