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
Oil - US Crude
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
More View more
Real Time News
  • Join @IlyaSpivak 's #webinar at 10:00 PM ET / 3:00 AM GMT to prepare for the week ahead in trading $AUDUSD Register here: https://t.co/sZNWPVRHA0 https://t.co/kYQsHkGUoV
  • Chinese Equities Following Tuesday Open: Shanghai Composite (-0.15%), CSI 300 (-0.25%) -BBG [delayed]
  • Asia Pacific Equities Update - China still closed: Nikkei 225 (-1.08%), KOSPI (-1.12%), ASX 200 (-0.20%), Hang Seng (-0.69%) -BBG [delayed]
  • My majors-based #Yen index is gaining with risk aversion pickup up pace in Asia trade as #Nikkei225 futures drop. Still, #JPY generally has more room to go before the broader technical bis shifts bullish from neutral. I am keeping an eye on Jan & Feb highs as that threshold https://t.co/NTWCrNiekf
  • $AUDUSD aiming cautiously lower after #RBA minutes paint somewhat cautious outlook, focus remains on deterioration in market mood with #SP500 and #Nikkei225 futures pointing lower - https://t.co/xl2zyxHAsQ https://t.co/cVFaQxIwVb
  • #RBA Minutes: US-China trade deal reduced, not removed global risk. Coronavirus represents a material risk to Australian economy -BBG $AUDUSD
  • #RBA Minutes: Prepared to ease further to support growth, jobs and CPI. Coronavirus a material near-term risk to China and trade -BBG $AUDUSD
  • #RBA Minutes: Saw incremental benefit of cuts, lag in transmission. Forecast consumption recovery a key uncertainty -BBG $AUDUSD
  • #RBA Minutes: Reviewed case for further rate cut at Feb meeting, cut could spur borrowing amid strong upswing in housing -BBG $AUDUSD
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 DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

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


News & Analysis at your fingertips.