Markets

Daily outlook for July 29: DAX stagnates. Spotlight on real estate and the euro!

At the start of trading, the prospect of another US economic stimulus program created a good mood. During the course of the day, however, the buying mood died down noticeably. The rise in corona-infected people in many countries continues to cause uncertainty. The DAX® and EuroStoxx®50 closed little changed at 12,830 points and 3,305 points, respectively. Tomorrow there will be numerous balance sheet data that could give the markets a boost.

Most of the yields on the bond market in Europe continued the downward trend. The yield on 10-year government bonds fell two places to -0.51 percent. Meanwhile, the yield on comparable US securities remained stable at 0.60 percent. The precious metals took a break today. Above all, platinum and silver showed strong swings in some cases. At the close, the gold price was $ 1,945 and the silver price was $ 24.40 per troy ounce. The sideways movement of the past few weeks has continued on the oil market. The price of a barrel of Brent Crude Oil hovered around the $ 43 mark. After the rally of the past four weeks, the euro / US dollar stabilized at $ 1,172, the highest level since autumn 2018.

Focus on companies

Delivery Hero raised the annual forecast again today and plans to enter Japan. The market participants acknowledged this with a price increase of 2.7 percent. Real estate stocks such as Alstria Office, Aroundtown, Grand City and Vonovia. You benefit from the decline in yields on the bond market. Decline in sales at Fuchs Petrolub and Hella put the stocks under a little pressure. LVMH lost significantly after weak quarterly figures. Varta dropped to the support level of EUR 90 today. Is the battery manufacturer catching up again?

Tomorrow, from Germany, among other things BASF, Deutsche Börse, Puma and Telefonica Germany Publish figures for the past business quarter. The figures for the rest of Europe are AMS, GlaxoSmithKline, OMV and Sanofi and from the USA the data from Boeing, General Electric, General Motors and PayPal in the focus of investors.

Important appointments

  • USA – Fed rate decision

Chart-technical outlook

Resistance marks: 12.840 / 12.890 / 12.930 / 13.020 / 13.100 / 13.200 points

Support marks: 12,560 / 12,720 / 12,780 points

After a slow start, the DAX® temporarily fell below the 12,800 point mark. At the close of trading, the stock barometer was able to push the level again. However, the 38.2% retracement line at 12,840 points could not yet be crossed. The index is currently supported between 12,720 and 12,780 points. As long as the mark of 12,840 points – or better still 12,930 points – is not exceeded, the consolidation threatens to continue up to 12,560 points

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

Viewing period: 09.07.2020 – 28.07.2019. Historical considerations are not reliable indicators of future developments. Source: tradingdesk.onemarkets.de

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

Viewing period: 07/29/2014 – 07/28/2019. 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®HZ22QZ4.9311,00013,70017.09.2020
DAX®HZ22NB7.2910,60014,00017.09.2020

Source: HypoVereinsbank onemarkets; As of: 28.07.2020; 5:47 p.m.

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