Yahoo Finance DAX Index Daily Fundamental Forecast – December 8, 2017
The DAX index continues to trade in a consolidative manner over the last 24 hours with a tinge of bullishness in it. This bullishness has been brought about by the developments in the Brexit deal and this is likely to keep the index buoyed in the short term. There was also a general improvement in risk sentiment which helped to move the DAX higher.
DAX Likely to Move Higher
The index moves from the low 13000 region to just below the 13100 region as the Asian and the European markets saw an improvement in risk as more and more investors choose to opt for risk. This can be seen in the way the bitcoin prices are zooming higher and the gold prices are falling lower and this shows that more investors are fed up with the low returns offered by the traditional markets and are willing to go that extra mile to get better returns even if it needs them to take that extra risk.
Yesterday, we also had some reports that talked about some progress being made in the Brexit talks and it looks as though we are close to a deal between the UK PM May and the Euro leaders and this is then likely to be vetted by the Irish leaders and political parties before it gets approved. If all goes well, then we might have a deal by Christmas and the index has got a boost from such reports as well as a deal is likely to be good for not only the UK markets but for the markets in the Eurozone as well.
Looking ahead to the rest of the day, we do not have any major news from Germany or the Eurozone but we have the NFP employment report from the US which is likely to have an impact on the global markets. This is likely to give a hint on the future direction that the US economy and the Fed is likely to take and hence it is important to have an eye on this data.
This article was originally posted on FX Empire
More From FXEMPIRE:
Bitcoin Gold DASH and Monero Analysis December 8, 2017, Technical Analysis
USD/JPY Fundamental Daily Forecast – Solid NFP Numbers Should Give Dollar/Yen Another Boost
AUD/USD and NZD/USD Fundamental Daily Forecast – Big Trade Report Miss Weighing on Aussie Dollar
EUR/USD, AUD/USD, GBP/USD and USD/JPY Daily Outlook – December 8, 2017
