Lethargic the DAX fails to breach tight 14,970 – 15,100 range

Published: January 26 2023, 02:11 GMT+0

Lethargic the DAX fails to breach tight 14,970 – 15,100 range

Yesterday at a glance: DAX moves 0.08% to close at 15,082 yesterday.

Uncertainty around the DAX is reflected by published market data as highly important Business Climate Index data from Germany beat analyst expectations of 90.2 with a reading of 90.2. Data for France Jobseekers Total released yesterday at 11:00 UTC is better than expected with 2.82 million, but worse than previous figure of 2.81 million. Data for Germany Business Expectations published yesterday at 09:00 UTC came out at 86.4, beating projections of 85 and showing improvement over the preceding figure of 83.2.

While the DAX was pretty flat yesterday, mixed performances were seen elsewhere as Hang Seng ascends 1.62% yesterday and closed at 22,045. ASX 200 lost 0.3% yesterday and closed at 7,490.4. KOSPI Composite Index rises 0.32% yesterday and closed at 2,428.57.

Data to be released today might clear up some of the market fog as Euro Zone ECB President Lagarde speech is expected tomorrow at 10:30 UTC. Spain GDP figure is projected at 0.1. It previously stood at 0.1; data will be released tomorrow at 08:00 UTC. Germany Buba Balz speech is scheduled for tomorrow at 17:00 UTC.

The index has been trending positively for about a month. The DAX hit a significant low of 15.42 around 4 months ago, but has since recovered 97,780%.