We have important data releases today. Earlier we saw the industrial production numbers from Germany. This gives a clue about how the manufacturing sector started in Q4. A forming trough in leading indicators such as IFO and PMI suggest the worst of the German industrial recession is behind us, but today’s numbers are still poor. And with yesterday’s factory orders surprising to the downside, we can see that weak industrial activity persisted at the start of Q4. Not great news.

However, the main event today is the NFP US jobs report for November. Employment in October was ok, both when looking at the upward revisions of previous months (and the fact that the GM strike pulled the headline down by nearly 50,000). Employment growth is slowing, but the headline is likely to be strong as the striking workers have returned to work. Probably a print around 175-200k today.

Finally, keep an eye on headlines from the SPD party convention that begins today. The surprising election of the new party leaders last week provide some hope in the market for more fiscal easing. That’s a story to follow over the weekend.

For more about the economic releases, visit the DAX chart and economic calendar here.

DAX Analysis Webinar Recording

The webinar usually takes place around the European open (8am, UK time) and you can join us by heading to our twitch channel. The links are available from the TheDaxTrader homepage.

DAX Futures key levels (TMZ19 contract)

Point of Control13220
Value Area High13285
Value Area Low13205
06-12-2019 DAX CFD Levels

DAX CFD Key Levels

Point of Control13076
Value Area High13131
Value Area Low13045
06-12-2019 DAX CFD Levels