DAX Lower After Fed Minutes

DAX index trading 0.18% lower today at 11,781 as investor’s turn cautious after the Fed minutes released yesterday and despite some positive macro data from EU today. Germany’s Manufacturing PMI came in at 43.6 beating expectations of 43 in August while the Composite PMI also came in at 51.4 above forecasts of 50.5 in August. The EU Manufacturing PMI came in at 47 topping forecasts of 46.2 in August.

DAX index dragged lower by Infineon -1.33%, Adidas -1.19%, Vonovia -1.01% and Linde -0.99%. On the other hand DAX supported by  Thyssenkrupp AG +4.02%, Continental AG +1.49%, and Deutsche Bank +1.04%.

DAX consolidates above the 200 days moving average as bulls gaining momentum for the short term.  Immediate support for the DAX index stands at 11,739 today’s low and then at 11,386 the low from March 27th while extra bids will emerge at 11,000 round figure.  On the upside immediate resistance stands at 11,840 today’s high and then at 12,109 the 100 Day moving average.

In London the FTSE 100 gives up 0.59% at 7,161, while CAC 40 is 0.47% lower at 5,410. In Wall Street, Dow Jones futures is 0.26 per cent lower at 26,155 while the S&P is 0.30 per cent lower at 2,920 while Nasdaq is 0.45% lower at 7,715.Don’t miss a beat! Follow us on Telegram and Twitter.