Stagnant the DAX dips to 14,970 amid sluggish price action

Published: January 26 2023, 01:06 GMT+0

Stagnant the DAX dips to 14,970 amid sluggish price action

A quick look at yesterday: DAX moves 0.08% to close at 15,082 yesterday.

The DAX's state is reflected by market data as Germany Business Climate Index improved upon its previous reading of 88.6 with a new data release of 90.2. France Jobseekers Total released yesterday at 11:00 UTC is better than expected at 2.82 million but down from preceding data of 2.81 million according to new data. Germany Business Expectations came out at 86.4, better than analyst estimates of 85 and improving upon the previous reading of 83.2.

While the DAX was pretty flat yesterday, mixed performances were seen elsewhere as notably, Hang Seng rose 1.82% yesterday and closed at 21,651. ASX 200 lost 0.3% yesterday and closed at 7,490.4.

Data to be released today might clear up some of the market fog as Euro Zone ECB President Lagarde speech set for tomorrow at 10:30 UTC. Spain GDP is expected tomorrow at 08:00 UTC. Germany Buba Balz speech is expected tomorrow at 17:00 UTC.

The index has been trending positively for about a month. The DAX is now trading 97,780% above the significant low (15.42) it slumped to 4 months ago.