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Weekly outlook: DAX in consolidation. Ifo, auto stocks and Fed meeting in focus! – columns

Friday,
12/11/2020
18:01

from onemarkets blog

| Views: 274

In the past week, the equity markets recorded mostly slight losses. The disappointment with the measures taken by the European Central Bank depressed the mood, as did the continued high number of infections. The DAX © closed with a weekly loss of 1.1 percent at 13,140 points and the EuroStoxx © 50 with a decrease of 1.2 percent compared to the previous week at 3,500 points.

Yields on the bond markets fell sharply over the course of the week. The yield on 10-year Bunds lost 10 points to minus 0.64 percent and is thus in the range of the November low. In the case of precious metals, there were sometimes strong fluctuations. The gold price fluctuated between 1,830 and 1,870 US dollars per troy ounce and silver between 23.50 and 24.50 US dollars. The oil price, on the other hand, closed with gains for the sixth week in a row. The agreement of the OPEC + states to increase production only very moderately from January drove the price of a barrel of Brent crude oil above the 50 US dollar mark.

Company in focus

When looking at the individual values, large discrepancies can once again be observed. The increase in business forecasts boosted shares in, among other things Covestro, DeliveryHero and HelloFresh. BASF benefited from rising oil prices and real estate stocks such as German living and Vonovia from the decline in yields on the bond markets. The share of ThyssenKruppwhich was driven to around EUR 6.50 by positive analyst comments. Industry and strategy indices like the European Biotech Index, the German climbers index as well as the Scale30 index with companies from the third row bucked the trend over the course of the week. The automotive sector was one of the losers of the week.

FedEx, Inditex, Metro, Nike and Hennes & Mauritz present business figures. Ceconomy gives a strategy update. Contintal and Wacker Chemie invite you to investor day. The European automobile association ACEA publishes figures on new car registrations in Europe. So move among other things BMW, Daimler, Peugeot, Renault and VW in the focus of investors.

Important appointments

  • Japan – Tankan Report, Q4
  • China – industrial production, November
  • Germany – Markit Purchasing Managers’ Index Germany (industry, service, composite) for December
  • Germany – ifo institute – economic forecast for 2021 and 2022
  • Germany – Ifo business climate index for Germany, December
  • Europe – Euro zone industrial production, October
  • Europe – Markit purchasing managers’ index Euro zone (industry, service, composite) for December
  • Europe – Euro zone – Eurostat trade balance, October
  • Europe – Euro zone consumer prices, November
  • France – consumer prices, November
  • France – Business Climate, December
  • USA – Empire State Index, December
  • USA – Industrial Production, November
  • United States – Retail Sales, November
  • USA – Fed rate decision
  • USA – Philly Fed Industrial Index, December
  • United States – Initial jobless claims for the week ending December 12th
  • USA – Current Account Q3
  • USA Leading Indicators, November

Chart technical outlook

Resistance marks: 13,140 / 13,200 / 13,260 points

Support marks: 12,960 / 13,040 / 13,100 points

The DAX® came under further pressure at the end of the week and almost touched the 13,000 point mark. The index still finds good support in this area. As long as the level is not significantly undercut, there is a chance of a technical countermovement of up to 13,260 points. If, on the other hand, the index falls below the mark, another wave of consolidation threatens.

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

old
Observation period: November 16, 2020 – December 10, 2020. Historical considerations are not reliable indicators for future developments. Source: tradingdesk.onemarkets.de

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

old
Observation period: December 11, 2013 – December 10, 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

Underlying WKN Selling price in EUR Base price / knock-out in pts. Last valuation day
DAX® index HR1PQW 7.13 12,900 March 16, 2021
DAX® index HR1PRA 6.21 13,450 June 15, 2021
Source: HypoVereinsbank onemarkets; 12/11/2020; 5:52 pm

Put warrants on DAX® Index for speculation on a price loss of the index

Underlying WKN Selling price in EUR Base price / knock-out in pts. Last valuation day
DAX® index HR1PQZ 6.61 13,300 March 16, 2021
DAX® index HR1PRG 7.28 12,900 June 15, 2021

Source: HypoVereinsbank onemarkets; 12/11/2020; 5:53 pm

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The article Weekly Outlook: DAX Consolidation. Ifo, auto stocks and Fed meeting in focus! first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).

Author: Richard Pfadenhauer

In the onemarkets blog, experts from HypoVereinsbank onemarkets and technical analysts from GodmodeTrader will tell you what will move the markets before the stock market starts. During the day, the editors keep an eye on the DAX, Dow & Co. for you and show you how you can benefit from the ups and downs with leverage products.
http://blog.onemarkets.de

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