DAX keeps losses ahead of NFP

FXStreet (Mumbai) - Germany’s benchmark index, the DAX opened slightly lower and subsequently fell further into the negative zone on Friday, as traders remain nervous before the upcoming non-farm payrolls report which may hint more about the future monetary development in the US.

Currently, the DAX 30 trades nearly -0.39% lower at 11540.30, recovering from 11514 lows. German stocks extends declines for the second straight session as downbeat German industrial production and trade balance data failed to lift the market sentiment. While traders refrained from creating fresh positions in anticipation of the crucial US jobs report may create huge volatility.

The index trades with a positive market breadth with the advance-decline ration being 16:14. Heidelberg Cement AG is the top gainer, 1.80%, followed by Volkswagen AG up by 0.90%. On the other hand, Merck KGaA is losing -1.80% followed by Deutsche Boerse, down -1%.

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DAX Technical Levels

The index has an immediate resistance at 11614. Meanwhile, support is seen at 11500 levels and 11380 levels.