Yesterday was a UK Bank Holiday: DaxTrader was closed
The US and Mexico have agreed on a new trade agreement. It is an agreement with particular importance for industry and agriculture. It is to replace the previous Nafta Agreement, which Trump repeatedly criticized as very disadvantageous for his country. After the deal with Mexico, negotiations with Canada could now start and a US government official said there was a chance that there would be an agreement with Canada by Friday. So that’s all good news for the markets. The agreement between the US and Mexico on a new trade agreement has boosted the stock markets at the beginning of the week. Especially car values were the focus.
Despite the diesel gate scandal, VW cars remain popular. A mix of positive volume and earnings from various cost-cutting programs generated record margins in the second quarter. The cars are in demand, the group delivered more vehicles than ever before and even the diesel affair seems manageable, despite the costs piling up to more than 27 billion euros. On the other hand, there are still complaints from investors, who suffered losses due to the scandal. So they’re not done just yet.
Federal Chancellor Merkel and US President Trump have said they supported ongoing talks between the EU and the US on removing obstacles to a deeper trade relationship. Another good sign for the markets.
The demonstrations in Chemnitz caused new riots on Monday night, according to police. At the rally of the group “Pro
The German stock market showed its friendly side on Monday. At the beginning of the week, the focus of the investors on the Frankfurt floor was, in particular, the Metro share and the securities of the carmakers BMW, Daimler, Continental and VW. The DAX (DAX 30) rose on Monday to its highest level in two weeks. As a result, the leading index continued its recovery from last week.
“So we are seeing a summer high,” and the unexpectedly strong increase in the Ifo business climate index in August is a factor.
28-08-2018 Dax Video
28-08-2018 Dax Key Levels
| KEY LEVELS (MINI DAX) | |
| POC * | 12458 |
| Value Area High | 12515 |
| Value Area Low | 12425 |
| VWAP | 12482 |
| R2 | 12644 |
| S2 | 12368 |
| Pivot | 12506 |
| Camarilla Breakout (Bull) | 12610 |
| Camarilla Breakout (Bear) | 12458 |
