FX Empire on Nostr: DAX Index Today: Economic Sentiment and US Retail Sales Key to DAX Moves ========== ...

DAX Index Today: Economic Sentiment and US Retail Sales Key to DAX Moves
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The DAX declined by 0.84% on Monday, July 15, ending the session at 18,591. German ZEW Economic Sentiment numbers will be in focus on Tuesday, July 16. Later in the session on Tuesday, US retail sales also require consideration. Siemens Energy AG slid by 4.94% over concerns about a Trump re-election. Auto stocks contributed to the DAX’s losses amidst concerns about demand. The Chinese economy grew by 4.7% year-on-year in Q2, down from 5.3% in Q1. Industrial production across the Euro area fell by 2.9% year-on-year in May after a decline of 3.1% in April. On Tuesday, ZEW Economic Sentiment figures could highlight Germany’s economic troubles. Economists expect the German ZEW Economic Sentiment Index to fall from 47.5 in June to 42.5 in July. On Monday, Fed Chair Powell said that Q2 US inflation figures gave the Fed increasing confidence that inflation was returning to the 2% target. Later in the Tuesday session, US retail sales require investor consideration. Economists forecast retail sales to stall in June after a 0.1% rise in May. Near-term trends for the DAX depend on US retail sales (Tues), Euro area inflation numbers (Wed), and the ECB press conference (Thurs). The DAX remained above the 50-day and 200-day moving averages, affirming the bullish price signals. A DAX breakout from the Monday high of 18,744 could signal a move to the May high of 18,893. Conversely, a DAX break below the 18,500 handle could bring the 50-day EMA into play.

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