DAX Index Today: Bullish Streak Extends to Six Sessions Amid Rate Cut Bets
==========
The DAX index extended its winning streak to six sessions, gaining 0.48% on August 13 and closing at 17,812. The bullish trend was fueled by rising bets on multiple Fed rate cuts following a 0.1% increase in US producer prices in July. Hannover Re, SAP, and Infineon Technologies saw gains, while Volkswagen and Mercedes Benz Group experienced losses. Germany's ZEW Economic Sentiment tumbled from 41.8 in July to 19.2 in August, indicating a deteriorating economic outlook. Near-term DAX trends will depend on corporate earnings, the US CPI Report, and Eurozone employment data. Eurozone employment change, industrial production, and GDP figures are expected to be released on August 14. The US CPI Report, which could further influence rate cut expectations, will also be released on the same day. The DAX held above the 200-day EMA but below the 50-day EMA, indicating a bearish near-term but bullish longer-term price trend. A return to 18,000 could signal a run at the 50-day EMA, while a drop below the 17,615 support level and the 200-day EMA could lead to a fall toward the 17,003 support level. The 14-day RSI at 43.59 suggests a potential fall to the 17,003 support level before entering oversold territory.
#DaxIndex #RateCuts #CorporateEarnings #UsCpiReport #EurozoneEmploymentData
https://www.fxempire.com/forecasts/article/dax-index-today-bullish-streak-extends-to-six-sessions-amid-rate-cut-bets-1453582
FX Empire /
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2024-08-14 06:04:21
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wss://relay.damus.ioPublished at
2024-08-14 06:04:21Event JSON
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"content": "DAX Index Today: Bullish Streak Extends to Six Sessions Amid Rate Cut Bets\n==========\n\nThe DAX index extended its winning streak to six sessions, gaining 0.48% on August 13 and closing at 17,812. The bullish trend was fueled by rising bets on multiple Fed rate cuts following a 0.1% increase in US producer prices in July. Hannover Re, SAP, and Infineon Technologies saw gains, while Volkswagen and Mercedes Benz Group experienced losses. Germany's ZEW Economic Sentiment tumbled from 41.8 in July to 19.2 in August, indicating a deteriorating economic outlook. Near-term DAX trends will depend on corporate earnings, the US CPI Report, and Eurozone employment data. Eurozone employment change, industrial production, and GDP figures are expected to be released on August 14. The US CPI Report, which could further influence rate cut expectations, will also be released on the same day. The DAX held above the 200-day EMA but below the 50-day EMA, indicating a bearish near-term but bullish longer-term price trend. A return to 18,000 could signal a run at the 50-day EMA, while a drop below the 17,615 support level and the 200-day EMA could lead to a fall toward the 17,003 support level. The 14-day RSI at 43.59 suggests a potential fall to the 17,003 support level before entering oversold territory.\n\n#DaxIndex #RateCuts #CorporateEarnings #UsCpiReport #EurozoneEmploymentData\n\nhttps://www.fxempire.com/forecasts/article/dax-index-today-bullish-streak-extends-to-six-sessions-amid-rate-cut-bets-1453582",
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