Markets

Daily outlook for October 30th: DAX is stabilizing initially. Oil price collapses!

After the sell-off, the stock markets have calmed down somewhat today. There was no support from the ECB today. However, the central bank promised a package for December. “When we say we are recalibrating our instruments, we mean all instruments,” said Lagarde in the press conference after the council meeting. “We’re going to work on the duration and volume and attractiveness,” she said. Lagarde could not shake off the nervousness of investors. Nevertheless, it helped the DAX® to gain 0.8 percent for the day. The EuroStoxx®50 closed almost 0.3 percent higher. GDP figures for Q3 are expected tomorrow.

Safe systems were in demand again today. The yield on 10-year Bunds fell to -0.635 percent and the yield on comparable US paper to 0.81 percent. In the case of precious metals, gold and silver were able to stabilize today in the range of yesterday’s closing prices. Palladium and platinum, however, continued their downward slide. However, the price of oil came under particular pressure again. The recently announced corona-related restrictions are likely to lead to a decline in oil demand. This ensured that the price of a barrel of Brent Crude Oil lost 3.6 percent to 37.70 US dollars and thus broke out of the downward trend that had been in place since mid-September 2020.

Company in focus

airbus wrote a higher loss than expected in the past fiscal quarter. Nevertheless, the share was able to distance itself from yesterday’s low. Nemetscheks Today investors even acknowledged good numbers with a double-digit plus. VW also reported good figures which helped the share to gain 2.5 percent today. Meanwhile, the share was clearly punished by Aixtronwhich lost around 18 percent after the Q3 figures were announced.

From Europe report tomorrow among other things Air France, LafargeHolcim, SNP Schneider and Total Business figures for the past quarter.

Important appointments

  • Germany – retail sales
  • Germany – GDP, Q3
  • Europe – Euro zone consumer prices
  • Europe – GDP euro zone
  • France – GDP, Q3
  • France – consumer prices
  • USA – Purchasing Managers Index
  • USA – Uni Michigan Consumer Confidence

Chart technical outlook

Resistance marks: 11,700 / 11,900 / 12,265 points

Support marks: 11,260 / 11,540 points

The DAX® fluctuated between 11,500 and 11,650 points during the day and closed around the daily high. The technical picture has hardly changed since then. As long as the support holds at 11,540 points, there is a chance of a recovery to 11,700 and then to 11,900 points. On the downside, however, there is a threat of consolidation to 11,260 points.

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

Observation period: July 28, 2020 – October 29, 2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

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

Observation period: October 29, 2013 – October 29, 2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

You can find leverage products for speculation on an upward or downward movement or sideways movement of the DAX® here.

Call warrants on DAX® Index for speculation on an increase in the index

UnderlyingWKNSelling price in EURBase price / knock-out in pts.omegalast valuation day
DAX® indexHR1W874.8211,60012.0December 01, 2020
DAX® indexHR1W8F 2.8012,00015.3December 01, 2020
Source: HypoVereinsbank onemarkets; October 29, 2020; 5:04 pm

Turbo Bear on DAX® Index for speculation on a price loss of the index

UnderlyingWKNSelling price in EURBase price / knock-out in pts.omegalast valuation day
DAX® indexHR1WAH 4.6311,50011.8December 01, 2020
DAX® indexHR1WAB3.6011,20012.1December 01, 2020

Source: HypoVereinsbank onemarkets; October 29, 2020; 5:05 pm

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