07.05.2020 DAX 30 Daily Analysis

07.05.2020 DAX 30 Daily Analysis

Today is going to be a very exciting day for the Dax 30! There are a number of market events happening today that might boost the Dax's performance and the Euro's strength or send it down. The first one was the German Industrial Production m/m figures which are the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. The reason why traders and investors care about this is that it's an indicator of economic health meaning that production reacts quickly to different levels of the business cycle and is directly related to employment levels and earnings. The figures released today were actually lesser than forecast which isn't good for the economy. Also today, there are a number of speeches lined up:One from the ECB President, Christine Lagarde, and from Deutsche Bundesbank president Jens Weidmann. These speeches are very important because they are both ECB Governing council members and are most influential and so their public engagements are used to drop subtle clues regarding future monetary policy. The Dax has been trading upwards since opening at €10623.11 in anticipation of these events. As of the time of this writing, the Dax is trading at €10706.20(+104.81).