DAX Index Highlights

The German stock index fell by 0.24 percent yesterday (in April 29th), closing at 18,118 mark.
This Tuesday (Apr 30th), business profits, the German’s economy, and European GDP and inflation data must be considered.
Late in the day, US business revenues, labor costs – wages, & consumer mood will be of interest to investors.  When the FOMC monetary council session begins.

A Synopsis of DAX Functionality

German Inflation and the Eurozone Economic Sentiment
Prices for consumers rose by 2.2 percent year over year in the month of April. Continuing an uptick of 2.2% in Mar. Analysts predicted yearly inflation of 2.3 percent. Having Impact on German DAX Index

Business optimism in the Europe fell from 96.2 towards 95.6. Analysts expect a rise to 96.9. Notwithstanding an increase in customer trust, subdivisions of the Commerce and Consumer Surveys. Reinforced market predictions for an ECB rate decrease in June.

The Dallas Federal Manufacturers Indicator in Pre- U.S Fed Spotlight
Yesterday, the Dallas Federal Manufacturers Indicator declined from -14.4 into -14.5mark for Apr. Researchers predicted a rise of -11.0 earlier.

Nevertheless, the statistics had little influence on American equities indexes. Initial advances in the US stock sectors helped to reduce the DAX’s deficits.

This Monday afternoon, the Dow Jones Industrial Average gained 0.38 percent. The Nasdaq 100 with the S&P 500 rose 0.35 percent and 0.32 percent, correspondingly.

Germany’s & EU economics are under a microscope.

Today (Apr 30th), investors should pay focus on German sales at retail, joblessness, & Q1 GDP statistics for the year 2024. Stronger than predicted  macroeconomic signs may dampen optimism among traders for several ECB rate reduction after Jun.

Analysts expect sales at retailers to rise 1.5 percent in March following falling 1.9 percent in Feb. Furthermore, they estimate the number of unemployed people to continue at 5.9 percent in Apr.

Still, GDP figures for the first quarter of 2024 may have a greater influence on DAX index listings- equities. Analysts expect the Germany’s economy to grow over 0.1 percent QoQ following shrinking by 0.3 percent in the final quarter of 2023.

Although economic numbers should affect the ECB’s policy direction. Company revenues may have greater effects on the DAX index. Volkswagen, among others, Vonovia, Inc, MTU Aerospace, the Mercedes-Benz Company. Lufthansa Airlines & Adidas are a few of the major companies to report profits.

Short-term Perspective

The DAX’s immediate patterns will be determined by Germany’s & American economic indices, as well as business results. Traders have to assess inflation in the European Union numbers. Since they expect the European Central Bank drops in rates into Jun.  At the Futures financial markets, the DAX fell by 17 pts, whereas the Nasdaq mini up eight places.

DAX Technical Analysis based on Daily and Four Hourly Graph

Source: TradingView- DAX daily graph

The DAX Index remained over the 50 & 200 D- EMAs, showing positive pricing signs.

The DAX recovery to 18,200 mark might offer the upside contingent a shot towards the 18,350 level.

Economic data from the nation of Germany, the European Union, plus the United States. As well as company results, should be considered.

Nevertheless, if the DAX Index falls below 18,000 points, the 50 D-EMA will come into effect. A breach beneath the 50D- moving average (EMA) might lead the bears to retreat to the 17,615 support area.

The 14 D- RSI of 54.35 score implies that the Index will recover to its all-time record top of 18,567 points on the 2nd of April. Before hitting overheated conditions.

Four-Hourly Graph Analysis

The German stock index remained over the 50 & 200 D- EMAs, verifying positive pricing signs.

The DAX Index breach over the 18,200 mark could call the 18,350 level within contention.

In contrast, a Index dip under the 50-day moving average (EMA) would let bearish to attack the 17,800 level.

The 14-time frame four-hourly rate RSI of 57.15 implies the DAX is going to spike over the 18,350 barrier. Prior to hitting overvalued terrain.

Technical Indicators & Signals (April 30)

MAs

Daily Pivots

Indicators- Daily