8 Jun 2015
Rising German yields drag DAX to fresh 4-month lows
FXStreet (Mumbai) - Germany’s benchmark index, the DAX extends its 3-days of losses and fell to the lowest levels in four months mainly weighed by rallying German yields bolstered by upbeat German industrial production data. While a stronger euro also pushes exports stocks lower.
Currently, the DAX 30 trades -0.37% lower at 11157.30 levels, bouncing-off fresh four month lows at 11107.50. The DAX fell in to losses as traders weigh the latest German data while monitoring the situation in Greece. Talks between Greece and its international creditors over a reform deal are expected to continue this week, but the nervousness seems to be increasing.
The index is seen trading with a negative market breadth, the advance-decline ratio being 4:26. Deutsche Bank AG is the top gainer up 6%, followed by Commerzbank up 0.42%. While Continental AG is down -1.63% on the day, followed by ThyssenKrupp which is losing -1.50%.
DAX Technical Levels
The index has an immediate resistance at 11300. Meanwhile, support is seen at 11100 levels and 10890 levels.
Currently, the DAX 30 trades -0.37% lower at 11157.30 levels, bouncing-off fresh four month lows at 11107.50. The DAX fell in to losses as traders weigh the latest German data while monitoring the situation in Greece. Talks between Greece and its international creditors over a reform deal are expected to continue this week, but the nervousness seems to be increasing.
The index is seen trading with a negative market breadth, the advance-decline ratio being 4:26. Deutsche Bank AG is the top gainer up 6%, followed by Commerzbank up 0.42%. While Continental AG is down -1.63% on the day, followed by ThyssenKrupp which is losing -1.50%.
DAX Technical Levels
The index has an immediate resistance at 11300. Meanwhile, support is seen at 11100 levels and 10890 levels.