Article By RoboForex.com
The Big Picture
Around a third of Corporations in the DAX have reported their quarterly results. Most of these reporting have beaten analyst expectations. Most CEOs also gave positive outlooks. As such, SAP´s cloud business grew very well. Although reporting weaker numbers, BASF beat analyst expectations. Despite BASF operating in a difficult environment, this led its stock rising, BASF will also profit from rising oil prices. Deutsche also surprised by announcing a profit, yet after opening strongly, prices fell. Deutsche´s existing issues still weighing heavily. Volkswagen is making progress in dealing with its emissions-scandal.
DAX
The DAX is in a sideways trend. Resistance is at 10820, support at 10250.
Euro / USD
The Euro is in a large sideways trend against the Dollar. Support is at 1.0822, resistance at 1.1429.
USD / JPY
The USD is in an upward trend.
Gold
Gold is in an upward trend
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
WTI Oil
WTI Oil is in a downward trend
Overnight:
German stocks only partially profited from good company results. After a firm open weakness came back in to play, leaving the market to close at +0.07%. Largest gaining stock in the DAX was Fresenius SE % CO KGaG rising 2.11%. The company reported solid results and is growing in all sectors. Wall Street trades weaker, The S&P loses 0.30% and the Nasdaq 0.5%.The Tech heavyweight Amazon reported after the market close. Turnover was within analysts’ expectation, yet profit and outlook disappointed. The outlook for Christmas was particularly timid. The Stock lost 5% after the close. The Nikkei 225 rises 0.58% on the back of a weaker Yen. The Euro trades slightly higher to the USD. Gold and WTO Oil are firm.
Economic Data:
- 14:00 Germany: Consumer Prices
- 14:30 USA: GDP
- 16:00 USA: University of Michigan
Quarterly Results:
- Germany: Linde
- USA: Chevron, Exxon Mobile
RoboForex Analytical Department
Article By RoboForex.com
Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.
