Dax Steady Ahead Of Trade Talks
Fiona Cincotta October 10, 2019 7:02 AM
Hopes for a limited trade deal has sparked a modest bounce in stocks
Hopes for a limited trade deal has sparked a modest bounce in stocks. The Dax has edged higher in early trade as investors look ahead to the 13th round of US - China trade talks starting in Washington today. Trading is relatively calm amid contrasting reports over how successful these talks will be.
As evidence mounts of the damage that the trade dispute is having on global trade and the German economy, Dax traders are likely to respond strongly to trade talk headlines. Trump won’t be impressed by a limited deal given his desire for a far-reaching agreement. However, the markets will consider it a vast improvement from the current uncertain picture.
Dax levels to watch:
The Dax rebounded overnight and is holding steady in early trade. A move above 12170 or below 12000 is needed for a stronger directional bias.
A breakthrough support at 12000 could open the door to 11950, prior to 11880. On the upside resistance can be seen at 12170 opening the door to 12250 and 12320 beyond that.
Disclaimer: The information on this web site is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement. The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency or CFD contract. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. Any references to historical price movements or levels is informational based on our analysis and we do not represent or warranty that any such movements or levels are likely to reoccur in the future. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.
Futures, Options on Futures, Foreign Exchange and other leveraged products involves significant risk of loss and is not suitable for all investors. Losses can exceed your deposits. Increasing leverage increases risk. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act. Contracts for Difference (CFDs) are not available for US residents. Before deciding to trade forex and commodity futures, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained herein is intended as general information about the subject matter covered and is provided with the understanding that we do not provide any investment, legal, or tax advice. You should consult with appropriate counsel or other advisors on all investment, legal, or tax matters. References to Forex.com or GAIN Capital refer to GAIN Capital Holdings Inc. and its subsidiaries. Please read Characteristics and Risks of Standardized Options.