Forex Marketz Daily Forex News – Fully Markets Update
DAX modestly flat post tepid EZ PMIs
FXStreet (Mumbai) – Germany’s benchmark index, the DAX recovered from lows and now trades muted as traders continue to digest the latest economic news from the Euro zone. While weaker European currency also fails to lift the exporters’ stocks higher.
Currently, the DAX 30 trades flat at 11514.30, recovering from 11452 lows. German stocks opened lower tracking negative close from US stock markets after some of the major players reporting weaker-than-expected results. The index remains subdued as downbeat manufacturing PMIs across the Euro area economies dent investors’ sentiments.
The index trades with a positive market breadth with the advance-decline ration being 27:3. Bayer AG is the top gainer, up 1.71%, followed by LANXESS AG gaining 1.56%. On the other hand, BASF SE is losing -2.44% followed by Volkswagen AG, down -1.58%.
DAX Technical Levels
The index has an immediate resistance at 11614. Meanwhile, support is seen at 11414 levels and 11270 levels.
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DAX modestly flat post tepid EZ PMIs
Source: FXStreet
