The Dax index moved sideways ahead of FOMC meeting

The Dax index moved sideways ahead of FOMC meeting

The Dax index moved sideways ahead of FOMC meeting

In the new week, the markets spent the day in the region with a high risk appetite despite the increasing tensions between the USA and China. While the US markets closed the first trading day of the week in the positive region in light of the positive balance sheets announced, the DAX index maintains its activity above the 15.530 level with limited downward momentum.


While the ifo business index in Germany came in below the expectations with 100.8 on a monthly basis, the Ifo Institute announced that supply problems weighed on the German economy both in industry and retail. Tension arose on the index side after the institution announced that it expects the growth in the German economy to increase by 1.3 percent in the second quarter and by 3.6 percent in the third quarter. Following this development, Germany's 10-year bond yield fell to minus 0.44%, the lowest level in the last 5.5 months. Following these developments, if the 15.500 level in the DAX index, which remained weak in its rise despite the preserved risk appetite before the Fed, is crossed downwards, the decreases may reach 15.100 and 14.750 support levels. On the return that can be experienced from a possible 15.500 level, the rises can reach 16,000 resistance with 15.750 level.

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