Markets

Daily outlook for July 28: DAX listless. Gold rally continues.

The stock barometer started the new week cautiously. Despite a sharp rise in the ifo business climate index and an increase in durable goods orders in the United States did not create a buying mood. Uncertainty about the Corona crisis and tensions between the US and China drove investors in bonds and gold. The DAX® closed 0.2 percent firmer at just under 12,860 points and the EuroStoxx®50 remained unchanged at 3,305 points. The US indices Dow Jones® and S & P®500 each improved by around 0.5 percent in the first hours of trading.

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Most of the yields on the bond market in Europe fell. The yield on 10-year government bonds fell four places to -0.49 percent. The yield for comparable US papers closed at 0.58 percent. Precious metals continued their rally. Gold rose to $ 1,940 and silver crossed the $ 24 mark per troy ounce. Palladium and platinum could not quite keep up with the pace of silver. They were nevertheless able to record premiums of over three percent each. Oil bulls can currently only dream of such developments. The oil price even dropped again today. The price of a barrel of Brent Crude Oil fell below $ 43.

Focus on companies

Covestro and Siemens benefited from positive analyst comments. Once again, the winners of the corona crisis presented themselves in a strikingly strong manner Delivery Hero, HelloFresh and Teamviewer. SAP confirmed the good figures for the second quarter and raised the free cash flow forecast for the full year. In addition, the IPO of a US subsidiary is planned. Investors confirmed the data with a clear price increase. Gold mining stocks also developed brilliantly – read on BANG index, which contains four of the world’s largest mining companies. The losers in the Corona crisis were the losers. Lufthansa fell below the EUR 8 mark. MTU Aero Engines fell below the support level of EUR 145.80. TUI broke in double digits after the tourism group canceled flights to the UK and Spain. In the US, Biogen, eBay and Tesla stocks started the new week with significant gains.

Tomorrow, from Germany, among other things Delivery Hero Publish figures for the past business quarter. The figures for the rest of Europe are Carrefour, Kering, and PSA and from the USA the data from AMD, Amgen, eBay and Pfizer in the focus of investors.

Important appointments

  • USA – consumer confidence

Chart-technical outlook

Resistance marks: 12.890 / 12.930 / 13.020 / 13.100 / 13.200 points

Support marks: 12,560 / 12,720 / 12,810 points

The DAX® moved today in a narrow range between 12,810 and 12,900 points. Bulls and bears are currently neutralizing each other. A sustainable movement will take place at the earliest if there is a breakout from the 12,810 / 12,900 point range. Many bulls could even wait up to 12,930 points before getting in. If the index falls below 12,810 points, further consolidation threatens up to 12,720 points.

DAX® in points; Hourly chart (1 candle = 1 hour)

Viewing period: 02.07.2020 – 27.07.2019. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

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

Viewing period: 07/28/2014 – 07/27/2019. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

Inline warrants on the DAX®

UnderlyingWKNSales price in eurosLower knock-out barrier in Pts.Upper knock-out barrier in pointsFinaler Valuation day
DAX®HZ22QZ4.3311,00013,70017.09.2020
DAX®HZ22NB6.6810,60014,00017.09.2020

Source: HypoVereinsbank onemarkets; As of July 24, 2020; 5:43 p.m.

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