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15 Apr 2015
DAX lifted ahead of ECB
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened slightly lower tracking mixed cues from the Asian markets following downbeat Chinese macro data. However, the index edged higher thereon as traders eagerly await the European Central Bank (ECB) press conference for updates on its bond-buying program.
Currently, the DAX 30 trades higher by 0.44% at 12283.80 levels, retreating from 12324.50 highs. The DAX trades elevated amid a weaker euro which supports exports driven stocks while markets brace for the first ECB meeting after the QE launch, expecting Draghi to appreciate the positive QE impacts.
The index is seen trading with a positive market breadth, the advance-decline ratio being 24:6. Continental AG is the top gainer, up 1.95% followed by LANXESS AG which is up 1.80%. on the losing end, Deutsche Boerse AG is down -0.31%.
DAX Technical Levels
The index has an immediate resistance at 12400. Meanwhile, support is seen at 12180 levels and 12k levels.
Currently, the DAX 30 trades higher by 0.44% at 12283.80 levels, retreating from 12324.50 highs. The DAX trades elevated amid a weaker euro which supports exports driven stocks while markets brace for the first ECB meeting after the QE launch, expecting Draghi to appreciate the positive QE impacts.
The index is seen trading with a positive market breadth, the advance-decline ratio being 24:6. Continental AG is the top gainer, up 1.95% followed by LANXESS AG which is up 1.80%. on the losing end, Deutsche Boerse AG is down -0.31%.
DAX Technical Levels
The index has an immediate resistance at 12400. Meanwhile, support is seen at 12180 levels and 12k levels.