DAX is weakening again. Focus on economic data

Richard Pathenhauer,
HypoVereinsbank onemarkets

Stock market barometers, such as the DAX, CAC40 and EuroStoxx50, have been fluctuating in a narrow range for the past two weeks. During the last two trading days, there was little hope that the indices might break higher. There was some disappointment today. The pressure came mainly from published economic data. The inflation rate in Germany decreased slightly. In other European countries, however, it has risen again. Thus, inflationary pressure remains high. The US economy contracted 1.6 percent in the first quarter. So far, GDP has been estimated to decrease by 1.5%. In addition, US consumer confidence has fallen to its lowest level since February 2021. There is a ton of additional economic data waiting for investors tomorrow. We will see if it gives a new impetus.

Yields of 10Y treasury bonds clearly rose yesterday. Today the situation has mostly eased somewhat. However, there were no impulses for the precious metals market. Gold may still remain above $ 1,800. The price of an ounce of silver hovers around $ 21. Reports on possible Russian palladium supply restrictions today caused a jump in the price of this precious metal. The price of a barrel of Brent Crude oil rose today – for the third day in a row – to break the $ 120 mark.

company in focus

Fraport fell below the support level of EUR 45.50. In addition to the cancellation of many flights in recent weeks, disruptions to air traffic control are affecting today’s business. Fresenius is reportedly considering combining the clinic’s operations with its competitors. The rate closed a bit higher today. Mercedes Benz will invest over two billion euros in Europe in the production of electric cars. Zalando is currently at its lowest level since early 2019. In less than a year, the newspaper lost about 70 percent.

Today’s strongest strategy and topic indexes included: Stoxx Europe 600 Oil and Gas Index and real estate index HVB Euro Top 50.

Micron technology provides figures for the past fiscal quarter. rocket internet and Scout24 I invite you to the general meeting.

Important meetings

  • China – Official Managers of Production and Service Purchasing China, June
  • Germany – Monthly labor market statistics Germany (employed, unemployed, unemployment rate), May
  • Germany – Retail, May
  • Germany – Publication of labor market data for Germany, June
  • Europe – EU Labor Market, May
  • France – consumer spending June
  • France – Consumer Prices, June (preliminary)
  • USA – Personal Income and Consumption in the US, May
  • USA – Preliminary US unemployment claims for the week ending June 25
  • USA – Chicago Purchasing Managers’ Index, June

Chart: DAX

Resistance tokens: 13,100/13440/13570/13760 points

Support Tokens: 12,620 / 12,900 points

The DAX deleted the price gains from the last two trading days at the start of trading. As a result, the leading index temporarily fell to 12,950 points. At the close of the session, the DAX stabilized around 13,000 points. On the other hand, the index finds support at 12,900 points. As long as this mark persists, there is a chance of rebuilding to 13,100 and further to 13,440 points. It is difficult to set yourself higher goals these days.

DAXin points; Daily chart (1 candle = 1 day)

Observation period: December 2, 2020 – June 29, 2022. Historical observations are not reliable indicators of future events Source:tradingdesk.onemarkets.de

DAXin points; Weekly chart (1 candle = 1 week)

Period of observation: June 30, 2014 – June 29, 2020. Historical observations are not reliable indicators of future events Source:tradingdesk.onemarkets.de

Fallback call warrants on DAX

Essential WKN Selling price in euros basic priceinpoint Cap level (upper course limit) in point finalValuation day
DAX HB6W3S 3.02 * 12,700 13.200 August 16, 2022
DAX HB6W3Z 1.72 * 13,400 13,900 August 16, 2022

* maximum repayment amount of EUR 5; Source: HypoVereinsbank onemarkets; Status: 29.06.2022; 5:05 pm

Discount sale guarantees on DAX

Essential WKN Selling price in euros basic price inpoint Cap level (lower course limit) in points finalValuation day
DAX HB6W54 3.85 * 14 100 13,600 August 16, 2022
DAX HB6W4X 2.50 * 13,400 12,900 August 16, 2022

* Max. The repayment amount is 5 euros; Source: HypoVereinsbank onemarkets; From: 6/29/2022 5:05 PM

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Contribution Daily forecast for June 30: DAX is weakening again. Focus on economic data first appeared blog onemarkets (HypoVereinsbank – UniCredit Bank AG).

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