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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Mixed
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
USD/JPY
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
Oil - US Crude
Bullish
Bitcoin
Mixed
More View more
Real Time News
  • Markets believe that the European Central Bank will ease policy this year. This could be very bad news for the Swiss National Bank, but it’s not clear that it will resort to old remedies. Get your market update from @DavidCottleFX here: https://t.co/xoTzHXSH4V
  • LIVE IN 30 MIN: Join Senior Strategist @IlyaSpivak as he discusses the outlook for the financial markets in the week ahead! Register here: https://www.dailyfx.com/webinars/889679267?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/2:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/APTSvV607X
  • Over the past 30 days, #GBP has been the best performing major vs. USD with +0.86% total-returns while #SEK has been the worst with -2.12%
  • RT @selinawangtv: “Phase one” of the U.S.-China trade deal is not the top story in Chinese State Media. In fact, they are not even calling…
  • The #GBP is down -0.05% to -0.5% against all its major counterparts. Sterling is down in particular against #HKD and #USD.
  • #Ethereum pivot points (daily) – S3: 179.36, S2: 180.42, S1: 180.78, R1: 181.84, R2: 182.54, R3: 183.6 - https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Possible cause of #USDSGD's turn lower was despite the easing measure from the MAS, was because it was less dovish than what markets had anticipated https://t.co/yIo3gsZh0Z
  • RT @JPan_IG: Singapore #MAS slightly reduce the rate of appreciation of the SGDNEER policy band, as broadly expected. No change to width an…
  • #USDSGD fell after the Monetary Authority of Singapore reduced the slope of the currency band and eased policy. - BBG Read more about the MAS and Singapore Dollar here - https://www.dailyfx.com/forex/fundamental/article/special_report/2019/09/03/The-Singapore-Dollar-and-MAS-What-is-SGD-and-How-to-Trade-it.html?QPID=30472&CHID=9 https://t.co/QLvjN4NKer
Stock Market Outlook: DAX Given China Boost, S&P 500 Signals Warning

Stock Market Outlook: DAX Given China Boost, S&P 500 Signals Warning

2019-04-04 11:00:00
Justin McQueen, Analyst
Share:

Equity Analysis and News

  • DAX | Encouraging Chinese Data Sparks a Rebound
  • S&P 500 | Negative Divergence, Pullback in Order?

Stock Market Outlook: DAX Given China Boost, S&P 500 Signals Warning

Source: Thomson Reuters, DailyFX

DAX | Encouraging Chinese Data Sparks a Rebound

A strong week for the DAX thus far, which has gained over 3.5% with the index underpinned at the beginning of the week following encouraging data out of China whereby the manufacturing sector moved back into expansionary territory. As a reminder, German companies and in particular the auto sector have a large exposure to China. Alongside this, upbeat PMI figures throughout the Eurozone alleviated fears that the weakness in the manufacturing sector is spreading the whole economy as the services sector picked up. However, with the DAX approaching the top of the channel and the relative strength index is nearing overbought territory, which in turn may see the psychological 12000 out of reach in the near-term.

DAX PRICE CHART: DAILY TIME FRAME (Jul 2018 – Apr 2019)

Stock Market Outlook: DAX Given China Boost, S&P 500 Signals Warning

S&P 500 | Negative Divergence, Pullback in Order?

The S&P 500 has continued to grind higher with the index posting a 1.2% gain so far this week. However, warning signs are beginning to emerge technically with the relative strength index posting a negative divergence, which in turn raises the risk of a near-term pullback. Tomorrow’s NFP is not expected to provide much in the way of volatility, particularly after the Fed signaled that they would not raise interest rates this year. Eyes therefore are focused on the developments regarding trade wars, a deal is needed for another leg higher.

S&P 500 Price Chart: Daily Time Frame (Jul 2018 – Apr 2019)

Stock Market Outlook: DAX Given China Boost, S&P 500 Signals Warning

RESOURCES FOR FOREX & CFD TRADERS

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

--- 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

News & Analysis at your fingertips.