Morning traders. The Dax earnings season is likely to keep traders interested today. Yesterday, many traders were relieved by the outcome of the US congressional election. Perhaps not because of the actual results, but because of the conclusion to another distraction. I am pleased with my decision to trade on reduced risk yesterday, because it was not a good day for results. But that’s trading. No two days are ever the same.
Today we learned that German exports declined 1.2% in September from the same month of last year, to €109.1 billion, the German Federal Statistical Office revealed the Eurozone’s largest economy had a surplus of €18.4 billion or 24% lower on an annual scale. Imports grew 5.3% to €90.7 billion.
Data compiled by the institution, better known as Destatis, showed the adjusted value of shipments delivered overseas dipped 0.8% from August, to €109.5 billion. As imports decreased 0.4% to €91.9 billion, the balance came in at €17.6 billion, down 3.3% month on month. Deutsche Bank’s data revealed a fall of 21.6% in the surplus of the current account of the balance of payments, to €21.1 billion.
Imports from the European Union jumped 5.8% from 12 months before, to €52.1 billion. At the same time, exports dipped 0.4% to €64.7 billion.
During the course of today, the main focus will be on the figures of Siemens, Continental and Deutsche Telekom. In addition, Heidelberg Cement and Commerzbank are also presenting their figures. Then we have the US rate decision later this evening. It’s expected that they will hold at 2.25%. Can you imagine the Donald Trump tantrum if they don’t?
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08-11-2018 Dax Key Levels
We saw a gap lower on the major European indices this morning, after a late rally into the close.
|DAX KEY LEVELS|
|Point of Control:||11596|
|Value Area High:||11615|
|Value Area Low:||11565|
|Camarilla Breakout (Bull)||11734|
|Camarilla Breakout (Bear)||11571|
08-11-2018 FTSE Key Levels
|FTSE KEY LEVELS|
|Point of Control:||7129|
|Value Area High:||7135|
|Value Area Low:||7108|
|Camarilla Breakout (Bull)||7205|
|Camarilla Breakout (Bear)||7104|
08-11-2018 Dow Key Levels
|DOW KEY LEVELS|
|Point of Control:||25808|
|Value Area High:||25930|
|Value Area Low:||25705|
|Camarilla Breakout (Bull)||26542|
|Camarilla Breakout (Bear)||25818|
08-11-2018 Stoxx Key Levels
|EuroStoxx KEY LEVELS|
|Value Area High:||3251|
|Value Area Low:||3238|
|Camarilla Breakout (Bull)||3287|
|Camarilla Breakout (Bear)||3238|