ANALYSIS
NQ100 Finds Support from PPIApr 14
DAX40 Rebounds From 1 Month Low
As the German Federal Statistical Office (Destatis) reported today; the Gross domestic product (GDP) in the country grew by 1.8 percent year-on-year in the second quarter, up 0.1 percent compared to the previous quarter. During this period, market expectations were for GDP to change by 0% quarterly and 1.5% annually. We see a reaction to the DAX40 after the data exceeded the market expectations. On the other hand, the index, which ended the minor descending wedge formation by recovering from 1-month lows, with the contribution of the incentive announced by the Chinese State Council of 146 billion dollars to support the economy, to the global investor risk appetite; 13 640 level may reach the target position in the transition to 13 465 resistance. In retreats, the 13 175 – 13 025 range will be the recovery zone.
