{"id":108624,"date":"2017-07-07T07:55:44","date_gmt":"2017-07-07T11:55:44","guid":{"rendered":"http:\/\/countingpips.com\/?p=108624"},"modified":"2017-07-07T07:48:54","modified_gmt":"2017-07-07T11:48:54","slug":"de30-technical-analysis-stronger-euro-is-bearish-for-german-exporters","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/de30-technical-analysis-stronger-euro-is-bearish-for-german-exporters\/","title":{"rendered":"DE30: Technical Analysis – Stronger euro is bearish for German exporters"},"content":{"rendered":"
July 7, 2017<\/div>
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By IFCMarkets<\/a><\/p>\n

Stronger euro is bearish for German exporters. Will DE 30<\/a> continue falling?<\/strong><\/p>\n

German economy accelerated in the first quarter of 2017 as the Q1 GDP grew 0.6% over quarter after 0.4% growth in fourth quarter of 2016. Recent data also point to improving German economic performance: unemployment remained at relatively low 5.7% in June after 0.1 percentage point decline in May, and headline inflation rose to 1.6% in June compared with 1.5% a year ago. Nevertheless investors were surprised when the European Central Bank President Mario Draghi said the ECB could adjust its policy tools of sub-zero interest rates and massive bond purchases as economic prospects improve in Europe. The news that ECB is considering a shift to monetary tightening resulted boosted euro\u2019s bullish prospects. A stronger euro in turn negatively impacts earnings prospects of euro-zone exporters as stronger euro makes their products less competitive in overseas markets. This is bearish for German stock index DE 30.<\/p>\n

\"DE<\/p>\n

On the daily timeframe DE 30: D1<\/b> has been falling after hitting record high in the end of June. The price has fallen below the 50-day moving average MA(50).<\/p>\n