Stock markets continued their recent recovery on Wednesday ahead of the eagerly awaited Fed decision on interest rates. Investors speak of a technical response to the previous sharp drops in prices. At 20:00 CEST the Fed will announce its decision on interest rates, and the press conference with Fed chairman Jerome Powell will start at 20:30. The Fed is expected to raise interest rates by 0.75 percentage points due to high inflation.
At a special meeting, the European Central Bank addressed the sharp rise in bond yields in Southern Europe and wants to take action against excessive fragmentation in the euro area. The ECB said it would be “flexible” with reinvestments from the expired PEPP bond purchase program. In addition, the development of a new “anti-fragmentation tool” is to be accelerated.
company in focus
The Court of Justice of the European Union imposed an antitrust penalty on the chip manufacturer, imposed by the European Commission Qualcomm in the amount of about a billion dollars. The European Commission committed several procedural errors and thus breached Qualcomm’s right to adequate defense, the court said. The European Commission was of the opinion that Qualcomm prevented Apple from purchasing LTE baseband chipsets from Qualcomm’s competitors through improper payments.
US President Joe Biden has oil companies asked to take action against the excessively rising prices of petroleum products. “Since the beginning of the year, refining margins on gasoline and diesel have tripled and are now at their highest level in history,” Biden wrote in a letter to the company’s executives. “In wartime, historically high refinery profit margins passed directly to American families are unacceptable.” Corporations must “take immediate action to increase supplies of gasoline, diesel and other refining products.”
- Switzerland – decision on SNB interest rates
- UK – Bank of England interest rate decision
- USA – Philadelphia Fed Index, June
- United States – Initial Jobless Claims
Marks of resistance: 13570/13683 / 13-871 / 14201/14226 points
Support characters: 13380/13294/13107/12595/12439 points
For the first time in several days, the DAX® regained its efficiency a bit more clearly. The index jumped over 13,380 points and to an intermediate resistance of 13,570 points. But the Bulls didn’t get there any further. Much will be settled today after the closure of XETRA. Then the US Federal Reserve’s interest rate decision is on the agenda. Odds above 13,570 points can extend DAX®’s recovery. On the other hand, below 13,294 points, a potential gap of almost 13,107 points would re-emerge.
DAX®in points; 4-hour chart (1 candle = 4 hours)
Period of observation: April 27, 2022 – June 15, 2022. Historical observations are not reliable indicators of future events. Source: Guidants
DAX®in points; Monthly chart (1 candle = 1 month)
Period of observation: January 6, 2017 – June 15, 2020. Historical observations are not reliable indicators of future events Source: Guidants
Discounted purchase guarantees for DAX®
|Essential||WKN||Selling price in euros||basic price in point||Cap level (upper course limit) in point||finalValuation day|
|DAX®||HB6W46||1.53 *||14 100||14,600||August 16, 2022|
|DAX®||HB6W4A||0.92 *||14,500||15,000||August 16, 2022|
* maximum repayment amount of EUR 5; Source: HypoVereinsbank onemarkets; Status: 15.06.2022; 5:10 pm
Sales guarantees with a discount on DAX®
|Essential||WKN||Selling price in euros||basic price in point||Cap level (lower course limit) in points||finalValuation day|
|DAX®||HB6W5C||4.13 *||14 900||14,400||August 16, 2022|
|DAX®||HB6W5G||4.62 *||15300||14 800||August 16, 2022|
* Max. The repayment amount is 5 euros; Source: HypoVereinsbank onemarkets; As of: 06/15/2022 17:12
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Article Outlook on June 16: Stock markets continue their recovery – it first appeared on the onemarkets blog (HypoVereinsbank – UniCredit Bank AG) in anticipation of the Fed’s interest rate decision.
Author: Bastian Galuschka