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Dax Is Waiting Paralyzed For November 3rd
There are only a few weeks left to the US presidential election. As long as it has not been decided who will move into the White House, investors on the Frankfurt Stock Exchange are likely to keep a low profile. And another, recurring topic is keeping the Dax in suspense: Brexit.
Yazar: Tom Roberts
Yayınlanma: 10 Ekim 2020 22:39
Güncellenme: 22 Kasım 2024 23:08
Dax Is Waiting Paralyzed For November 3rd
The moderate ups and downs on the German stock market should continue into the new week with the start of the reporting season in the USA. At least this applies if there is no extraordinary positive or negative news, for example from politics or the coronavirus. From a technical chart point of view, the Dax remains supported in the area around 12,800 points, while the next hurdle is waiting at around 13,300 points. On Friday, the Dax remained stable at the end of an overall strong week on the stock market.
After the German benchmark index initially benefited moderately from economic hopes, it has now also slipped into the red. Ultimately, there was a minimal increase of 0.07 percent to 13,051.23 points. On a weekly basis, this meant a profit of almost three percent.
As long as the US presidential election is just around the corner, uncertainty remains high and investors are unlikely to venture too far out of cover. A rather low buying mood is also expected in view of the final round of Brexit negotiations. British Prime Minister Boris Johnson had set a deadline of Thursday, October 15, for an agreement. On this day the EU summit begins, which deals with the future relationship with Great Britain.
"In order to still avoid a hard Brexit and to give the parliaments the time necessary for ratification, the EU and the United Kingdom would have to basically agree on a common line by then," states the Landesbank Baden-Württemberg ( LBBW).
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