On 15 January, UK parliament rejected PM May’s Brexit deal. This may result in high volatility and consequent changes to market spreads and pricing. READ MORE
Germany 30
DAX 30
As one of the biggest exporters in the world, the main German index moves with international demand for its goods and particularly its cars.
HIGHLOWCHANGE% CHANGE
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As expected, Theresa May survived the vote of no confidence brought against her by the opposition. The result was tight with just 19 votes in it. The pound spiked higher reflecting the short-term stability the result brings. Full attention will turn to Theresa May’s Plan B, expected 21st January.
The Germany 30 consists of the biggest companies traded on the Frankfurt Stock Exchange. The size of the listed company is determined by book value and market capitalization. Currently, the DAX index is dominated by financial (inc. insurance), automotive, healthcare and chemicals sectors such as Allianz, BMW, Bayer and Siemens. Its sheer size decrees that it is very dominant index in Europe and can carry some influence over its neighbors.
Price drivers
Germany is an integral part of the Eurozone as it has the largest economy in Europe, but is also an export-based economy which makes the DAX 30 index susceptible to sentiment surrounding its trading partners. Also, the dominance of the automotive, healthcare and chemical sectors means they should be watched closely as they may have the ability to lead the overall market. Furthermore, government policy can drive investor sentiment.
Distance shows the difference between the pivot point and bid rate. It is calculated by subtracting the ask rate from the pivot point rate.
Bid
Ask
Daily
HIGH
LOW
Close
R3
R2
R1
S1
S2
S3
Weekly
HIGH
LOW
Close
R3
R2
R1
S1
S2
S3
Monthly
HIGH
LOW
Close
R3
R2
R1
S1
S2
S3
Understanding Pivot Points
Pivot points are used by traders as a predictive indicator and denote levels of technical significance. When used in conjunction with other technical indicators such as support and resistance or Fibonacci, pivot points can...Read More
