DAX Retreats as Risk Off Mood Returns

DAX index trading 0.49% lower at 11,895 as investors concerns turn to Brexit developments. EU Producer Price Index (month over month) came in at 0.2% meeting forecasts for July, the yearly reading for Producer Price Index came in at 0.2% in July.

DAX index getting a hand by Beiersdorf +0.65%, Infineon +0.42%, Henkel +0.57% and Linde +0.29%. On the other hand Thyssekrupp is -3.44%, Deutshe Post -1.40% Continental -1.17% and Deutsche Bank -1.11%.

DAX retreats today but stays above the recent triangle formation giving the bulls a hope for higher levels. Immediate support for the DAX index stands at 11,870 today’s low and then at 11,669 the 50 day moving average, while extra bids will emerge at 11,000 round figure. On the upside immediate resistance stands at 11,931 today’s high and then at 12,079 the 200 day moving average.

In London the FTSE 100 adding 0.01% at 7,282, while CAC 40 is 0.43% lower at 5,470. In Wall Street, Dow Jones futures is 0.65 per cent lower at 26,235 while the S&P is 0.63 per cent lower at 2,906 while Nasdaq is 0.76% lower at 7,631.Don’t miss a beat! Follow us on Telegram and Twitter.