News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • 🇰🇷 Interest Rate Decision Actual: 0.5% Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇰🇷 Interest Rate Decision due at 01:00 GMT (15min) Actual: 0.5% Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇰🇷 Interest Rate Decision due at 01:00 GMT (15min) Expected: 0.5% Previous: 0.5% https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇯🇵 BoJ Gov Kuroda Speech due at 01:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-04-15
  • Heads Up:🇦🇺 Consumer Inflation Expectations (APR) due at 01:00 GMT (15min) Previous: 4.1% https://www.dailyfx.com/economic-calendar#2021-04-15
  • US ready to impose sanctions on Russia over election, SolarWinds - BBG
  • The British Pound's technical posture against the Australian Dollar, Canadian Dollar and Swiss Franc presents near-term levels that may dictate upcoming price action. Get your market update from @FxWestwater here:https://t.co/vm7xpuum5D https://t.co/FlXtU5Ic61
  • 🇯🇵 Foreign Bond Investment (10/APR) Actual: ¥1714.4B Previous: ¥375.1B https://www.dailyfx.com/economic-calendar#2021-04-14
  • Heads Up:🇯🇵 Foreign Bond Investment (10/APR) due at 23:50 GMT (15min) Previous: ¥377B https://www.dailyfx.com/economic-calendar#2021-04-14
  • 5 out of 11 S&P 500 sectors ended higher, with 51.1% of the index’s constituents closing in the green. Energy (+2.91%), financials (+0.66%) and materials (+0.64%) were among the best performers, while consumer discretionary (-1.17%) and information technology (-1.15%) trailed. https://t.co/FMscTetRLb
DAX Price Analysis: Major EU-US Breakthrough Boosts Auto Makers

DAX Price Analysis: Major EU-US Breakthrough Boosts Auto Makers

Justin McQueen, Analyst

DAX Analysis and News

  • EU’s Juncker and President Trump De-escalate EU-US Trade Dispute
  • Auto Names Lift DAX Higher

DAX Outperforms on EU-US Breakthrough

The German 30 blue chip index is the notable outperformer this morning, rising some 1.5%. This followed the meeting between EU’s Juncker and President Trump whereby they agreed to refrain from imposing tariffs on European cars for now, while the two sides had also launched negotiations in order to cut other trade barriers, subsequently easing the threat of a trade war between the EU and US.

Background of trade wars

  • Impact of Trade Wars, click here

In reaction to the breakthrough, European auto sector (SXAP) is the biggest gainer (+1.3%), which had been hit hard amid threats from the Trump administration that they were looking to impose a 20% import tariff on all EU vehicles. The auto heavy DAX has been supported by the likes of Volkswagen (+3%) and BMW (2%), while Daimler (Flat) however has dipped following their earnings update.

DAX Price Chart: Daily Time Frame (April-July 2018)

DAX Price Analysis: Major EU-US Breakthrough Boosts Auto Makers

Chart by IG

The DAX briefly broke above the July highs, however, quickly retraced with the 61.8% Fibonacci retracement at 12771 holding firm. Consequently, a firm break is needed in order to revisit 12800. In terms of near term support, the 50% Fib at 12643 remains prominent, which also coincides with the 100DMA.

--- Written by Justin McQueen, Market Analyst

To contact Justin, email him at Justin.mcqueen@ig.com

Follow Justin on Twitter @JMcQueenFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES