Markets

Daily outlook for June 5: DAX paused. Focus on hydrogen and ProSiebenSat.1!

Yields continued to rise on the bond market. The yield on 10-year German government bonds rose to minus 0.32 percent and the yield on comparable US securities was listed at 0.80 percent. The gold and silver precious metals stabilized after yesterday’s reset. Gold regained the $ 1,700 mark per troy ounce. The quotes for oil came to a standstill today. Market participants are waiting for the upcoming OPEC + meeting.

Focus on companies

Adidas reported good sales figures from China today. The sporting goods manufacturer’s share then improved by around two percent. Carmaker like Daimler and VW as well as suppliers like Continental and Schaeffler engaged in reverse gear today after the federal government’s stimulus package does not provide for a purchase premium for vehicles with internal combustion engines. The Lufthansa stated that most of the destinations would be returned to by September. The stock continued to rise today. Mediaset increases the proportion of voting rights in advance of the Annual General Meeting on June 10 ProSiebenSat.1. The stock improved by around two percent today. The Association of Machine and Plant Manufacturers announced that order intake was 31 percent lower than in the same month last year. The Solactive German Mechanical Engineering Index still hardly moved. The topic of hydrogen is anchored in the new stimulus package. The government plans to invest around nine billion euros in its hydrogen strategy in the coming years. Individual values ​​like Nel and the Global Hydrogen Index acknowledged this with clear price premiums.

German living invites you to the virtual general meeting tomorrow.

Important appointments

  • Germany – incoming orders, industry
  • USA – Labor market report

Chart technical outlook

Resistance marks: 12,930 points

Support marks: 11,740 / 11,800 / 11,850 / 11,950 / 12,280 / 12,370 points

The DAX® took a break today and fluctuated between 12,340 and 12,520 points during the day. The index is supported in the range of 12,370. As long as the level is not significantly undercut, there is a chance of the upward trend continuing up to 12,930 points. On the other hand, if the index is well below 12,370 points, consolidation up to 11,800 is possible.

DAX® in points; 4-hour chart (1 candle = 4 hours)

Observation period: April 13th, 2020 – June 4th.2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

DAX® in points; Weekly chart (1 candle = 1 week)

Observation period: June 5, 2014 – June 4, 2020. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

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