Morning traders. A bit of a mixed bag for me yesterday, we had a really nice FTSE trade which hit target, but were left disappointed with three small DAX stop losses. Overall it could have been worse, so we’ll draw a line under it and move on.
To find out more about these, click here: https://thedaxtrader.co.uk/daxtrader-signals-results/
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In October, the Eurozone’s economy experienced the slowest growth rate since September 2016, according to IHS Markit’s report released today. The PMI Composite Output index came in at 52.7 in the last reported month, down from 54.1 in September and lower than the flash estimate of 53.1.
“An export-led slowdown, linked to growing trade tensions and tariffs, has been exacerbated by rising political uncertainty, growing risk aversion and tightening financial conditions,” said Chris Williamson, Chief Business Economist at IHS Markit.
German service output declined to a three-month low in September with the business activity growth declining, IHS Markit reported on Tuesday. The country’s Final Service PMI Activity Index amounted to 54.7, down from September’s 55.9 reading. Final Germany Composite PMI Output Index stood at 53.4, declining from September’s 55.0 to a five-month low.
However, the expansion in the service sector remained robust and the job creation continued at the quickest rate in over a decade. Business confidence majorly impacted by concerns over signs of global economic expansion slowdown, decreasing to the lowest in almost two years.
The service sector followed manufacturing in recording a loss of momentum at the start of the fourth quarter, though the good news was that the slowdown in service sector business activity growth in October was less severe than signalled by the earlier flash PMI estimate.In isolation, the latest numbers look generally positive: service providers reported rising inflows of new business thanks to a strong domestic market, helped by sustained strong employment growth, and on the whole they remained optimistic about the outlook,” said IHS Markit Principal Economist Phil Smith.
Dax Key Levels
|DAX KEY LEVELS|
|Value Area High||11526|
|Value Area Low||11483|
|Camarilla Breakout (Bull)||11550|
|Camarilla Breakout (Bear)||11459|
Dow Key Levels
|DOW KEY LEVELS|
|Value Area High||25512|
|Value Area Low||25312|
|Camarilla Breakout (Bull)||25687|
|Camarilla Breakout (Bear)||25315|
FTSE Key Levels
|FTSE KEY LEVELS|
|Value Area High||7129|
|Value Area Low||7095.5|
|Camarilla Breakout (Bull)||7140|
|Camarilla Breakout (Bear)||7069|
Stoxx Key Levels
|EuroStoxx KEY LEVELS|
|Value Area High||3225|
|Value Area Low||3216|
|Camarilla Breakout (Bull)||3232|
|Camarilla Breakout (Bear)||3206|