{"id":16415,"date":"2020-07-06T07:18:45","date_gmt":"2020-07-06T05:18:45","guid":{"rendered":"https:\/\/bernstein-bank.com\/?p=16415\/"},"modified":"2020-07-06T07:18:45","modified_gmt":"2020-07-06T05:18:45","slug":"dax-index-ready-for-new-growth","status":"publish","type":"post","link":"https:\/\/bernstein-bank.com\/en\/dax-index-ready-for-new-growth\/","title":{"rendered":"DAX index ready for new growth"},"content":{"rendered":"<table cellspacing=\"0\" cellpadding=\"4\">\n<tbody>\n<tr>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">Gold<\/span>\u00a0 \u00a01693,50<br \/>\n(<span style=\"color: #ff0000;\">-4,49%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">EURUSD<\/span>\u00a0 \u00a01,0799<br \/>\n(<span style=\"color: #ff0000;\"> -3,97%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DJIA<\/span>\u00a0 24115<br \/>\n(<span style=\"color: #ff0000;\">-5,87%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">OIL.WTI<\/span>\u00a0 25,095<br \/>\n(<span style=\"color: #ff0000;\">-37,62%<\/span>)<\/h4>\n<\/th>\n<th>\n<h4 style=\"text-align: center;\"><span style=\"color: #e2b365;\">DAX<\/span>\u00a0 \u00a010609<br \/>\n(<span style=\"color: #ff0000;\">-15,69%<\/span>)<\/h4>\n<\/th>\n<\/tr>\n<\/tbody>\n<\/table>\n<p align=\"justify\">Over the last few days we have seen investors&#8217; attention to risk assets grow. There are several reasons for this sentiment &#8211; improving general macroeconomic statistics and quarantine mitigation in most regions.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nDAX<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-16416 aligncenter\" src=\"https:\/\/bernstein-bank.azureedge.net\/wp-content\/uploads\/2020\/07\/DAX.png\" alt=\"DAX\" width=\"600\" height=\"257\" \/><\/p>\n<p align=\"justify\">An excellent US employment report, as well as a maximum growth of activity in China&#8217;s service sector, give a reason for another rally.<br \/>\nPlease note the DAX index. From the fundamental point of view, business activity in Germany, and the entire Eurozone exceeded expectations.<br \/>\nFrom the technical point of view, the index is above the daily SMA200. There was also a break-down of 12390, which was the main resistance level for several consecutive weeks.<br \/>\nConsidering all these factors, we can assume that the bullish trend will continue, but we should take into account possible corrections to the support levels.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nPfund Sterling<br \/>\n<\/strong><\/p>\n<p>While the markets are hovering in a range only GBP has a chance to somehow show a trend. If the negotiations on the Brexit give some result next week, we are likely to see a positive trend. The pound has an opportunity to grow up to the level of SMA200 &#8211; 1.2670. Given the weakness of the U.S. dollar due to the departure of investors in risky assets, the pound has all chances for growth.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nGold<br \/>\n<\/strong><\/p>\n<p align=\"justify\">The weekend in the USA has reduced the opportunities for gold to try to go above past highs. It is traded almost in flats, however, it looks like the current growth momentum is starting to fade.<br \/>\nThe RSI indicator on the 4-hour chart gives bearish signals and also confirms that the growth momentum is fading.<br \/>\nSo far, the gold is still in the upside, but you can already see that the price needs some pullback to continue rising to $1800 per ounce.<\/p>\n<p style=\"text-align: center;\"><strong><br \/>\nWhat&#8217;s waiting for us today?<\/strong><\/p>\n<p align=\"justify\">10.30 UK Construction Business Index June<br \/>\n16.00 ISM U.S. Manufacturing Supply Chain Management Index for June<br \/>\n16.30 Bank of Canada Market Concept Review<\/p>\n<hr \/>\n<p style=\"text-align: center;\" align=\"justify\">Important Notes on This Publication:<small> <\/small><\/p>\n<p align=\"justify\"><small>The content of this publication is for general information purposes only. In this context, it is neither an individual investment recommendation or advice nor an offer to purchase or sell securities or other financial products. The content in question and all the information contained therein do not in any way replace individual investor- or investment-oriented advice. No reliable forecast or indication for the future is possible with respect to any presentation or information on the present or past performance of the relevant underlying assets. All information and data presented in this publication are based on reliable sources. However, Bernstein Bank does not guarantee that the information and data contained in this publication is up-to-date, correct and complete. Securities traded on the financial markets are subject to price fluctuations. A contract for difference (CFD) is also a financial instrument with leverage effect. Against this backdrop, CFD trading involves a high risk up to the point of total loss and may not be suitable for all investors. Therefore, make sure that you have fully understood all the correlating risks. If necessary, ask for independent advice.<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold\u00a0 \u00a01693,50 (-4,49%) EURUSD\u00a0 \u00a01,0799 ( -3,97%) DJIA\u00a0 24115 (-5,87%) OIL.WTI\u00a0 25,095 (-37,62%) DAX\u00a0 \u00a010609 (-15,69%) Over the last few days we have seen investors&#8217; attention to risk assets grow&#8230;.<\/p>\n","protected":false},"author":37,"featured_media":13158,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-16415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DAX index ready for new growth | Bernstein Bank<\/title>\n<meta name=\"description\" content=\"Over the last few days we have seen 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