The US Federal Reserve today released details on its new monetary policy framework known. The US market participants accepted the changes with goodwill. The US indices started trading with some significant gains. However, the European markets could not benefit from this. Rather, the DAX® and EuroStoxx®50 lost 0.7 and 0.8 percent respectively over the course of the day.
At times there were strong swings in the bond market. By the end of trading, the situation calmed down and yields rose slightly compared to yesterday. The yield on 10-year Bunds rose to -0.395 percent. The yield for comparable US papers is currently 0.74. The precious metals developed somewhat weaker today. Gold retested the technically important support level of $ 1,920. The sideways movement on the oil market continues. After the brief breakout above 45.5 US dollars, the price for a barrel of Brent today turned back below the 45 US dollar mark.
Company in focus
Of the German postal service-Chef today confirmed the forecasts for 2020 and 2021. Market participants took the news today as an opportunity to take profits. At times, the share gained over 16 percent in August. Aroundtown came under pressure after a negative analyst comment Instone Real Estate the planned capital increase did not go down well. Delivery Hero had to give way today after high losses in the past fiscal quarter. In contrast, car stocks such as BMW and VW such as MTU Aero Engines. The share of German Lufthansa temporarily exceeded the EUR 9 and Varta marked a new all-time high.
- Germany – GfK consumer climate
- Europe – business confidence, business climate
- USA – Jackson Hole Symposium
- USA – purchasing managers index
- USA – Uni Michigan Consumer Confidence
Chart technical outlook
Resistance marks: 13,230 / 13,300 points
Support marks: 12,670 / 12,900 / 13,030 / 13,100 points
After a very friendly start with a listing of up to 13,230 points, the DAX® turned south in the morning. In the afternoon there was a second attempt at the mark of 13,200 points. But again there was a lack of follow-up purchases. The DAX® tests the support of 13,100 points at the close of trading. If it falls below this mark, there is a risk of a setback to 13,030 points. As long as this level holds, there is a chance of a rebound up to 13,230 / 13,300 points. Below 13,030 points, sentiment could deteriorate in the short term.
DAX® in points; 1-hour chart (1 candle = 1 hour)
Observation period: 08/07/2020 – 08/27/2019. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
DAX® in points; Weekly chart (1 candle = 1 week)
Observation period: 08/28/2013 – 08/27/2019. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de
Inline warrants on the DAX®
|Underlying||WKN||Sales price in euros||Lower knock-out barrier in Point||Upper knock-out barrier in pt.||Final Valuation day|
|DAX®||HR03FZ||5.49||11,600||14,000||October 15, 2020|
|DAX®||HR03G7||7.41||12,000||14,800||October 15, 2020|
Source: HypoVereinsbank onemarkets; As of: 08/27/2020; 5:48 pm
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