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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
More View more
Real Time News
  • Dollar Index has broken major uptrend support and risks accelerated losses into the December open. Get your $USD technical analysis from @MBForex here:
  • The MACD is an indicator that uses exponential moving averages (EMA) to determine trend strength along with entry points based on crossovers. Find out how you can use the MACD as a buy/sell signal here:
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here:
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here:
  • Cyclical and non-cyclical stocks can help diversify a trader’s equity portfolio. Get your guide to understanding these stocks here:
  • Beautifully put.
  • Gold prices could claw back lost ground ahead of the non-farm payrolls report for November, buoyed by a dovish FOMC, falling real yields and rising inflation expectations. Get your $XAUUSD market update from @DanielGMoss here:
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here:
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here:
  • That if you’re offended by what someone says on Twitter and that ruins your day, you live an extremely lucky life to be able to have that be your biggest problem for the day.
DAX 30 Trades Lower As Energy Shares Take a Hit

DAX 30 Trades Lower As Energy Shares Take a Hit

2016-04-05 08:51:00
Alejandro Zambrano, Market Analyst

Talking Points

  • The share price of energy producers E.ON and RWE AG have taken a hit and are subsequently pulling the DAX 30 lower.
  • German factory orders, out this morning, declined by 1.2% MoM vs. prior expectations of a 0.3% gain.
  • The next level of support for the DAX 30 is the March 10 low of 9400 followed by the February 24 low of 9122.
  • Eurozone Retail Sales and ISM Non-Manufacturing are on deck and may affect the DAX 30.

The DAX 30 (FXCM: GER30) is lower by 1.62% at the time of writing. The biggest losing sector right now is the utilities sector, with firms such as E.ON and RWE AG, both of which are involved in energy production, suffering.

The softness in the energy shares may potentially be linked to the softer crude oil price, which the business press linked to the softness in Asian stock markets overnight. We note that the biggest losing sectors in key markets such as the FTSE 100 are also Energy shares and Materials (commodities).

German factory orders, out this morning, declined by 1.2% MoM vs. expectations of a 0.3% gain. Year-on-Year factory orders are up by 0.5% vs. the 2.2% expected.

The next level of support for the DAX 30 is the March 10 low of 9400 followed by the February 24 low of 9122. Yesterday’s high of 9903 is a short-term resistance level, while the March high of 10,120 is a stronger resistance level.

Eurozone Retail Sales and ISM Non-Manufacturing

Eurozone retail sales are due this morning and expected to show a YoY growth of 1.9%, a slightly slower pace than the 2% in January. This may affect the DAX 30.

In the afternoon, we can look towards U.S. Trade Balance and ISM Non-Manufacturing reports, with the latter likely grabbing most of the attention given that it provides an insight into the important U.S. service sector. Economists project the ISM Non-Manufacturing sector to have gained to 54.1 from 53.4.

Our forecasts for Q2 2016 are now live on the site. Download them for free.

DAX 30 | FXCM: GER30

Please add a description for the image.

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

--- Written by Alejandro Zambrano, Market Analyst for

Contact and follow Alejandro on Twitter: @AlexFX00

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