29 Apr 2015
DAX trades flat, German CPI eyed
FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened on a positive note and edged higher supported by gains in the German car maker Volkswagen on upbeat earning reports. However, the gains were quickly wiped out and the index trades flat awaiting German Prelim CPI ahead of US GDP figures and FOMC.
Currently, the DAX 30 trades almost unchanged at 11807 levels, retreating from 11879 session highs. The DAX erased gains and trades cautious as traders digested fresh corporate news with traders now turning their focus to the US where the Federal Reserve is set to conclude its policy meeting.
The index is seen trading with a negative market breadth, the advance-decline ratio being 10:20. Volkswagen AG is the top gainer up 0.95%, followed by Commerzbank AG gaining 0.82%. On the losing end, K+S AG is down -2.80%. While, Merck ThyssenKrupp AG is down nearly -1.71%.
DAX Technical Levels
The index has an immediate resistance at 12k. Meanwhile, support is seen at 11730 levels and 11580 levels.
Currently, the DAX 30 trades almost unchanged at 11807 levels, retreating from 11879 session highs. The DAX erased gains and trades cautious as traders digested fresh corporate news with traders now turning their focus to the US where the Federal Reserve is set to conclude its policy meeting.
The index is seen trading with a negative market breadth, the advance-decline ratio being 10:20. Volkswagen AG is the top gainer up 0.95%, followed by Commerzbank AG gaining 0.82%. On the losing end, K+S AG is down -2.80%. While, Merck ThyssenKrupp AG is down nearly -1.71%.
DAX Technical Levels
The index has an immediate resistance at 12k. Meanwhile, support is seen at 11730 levels and 11580 levels.