Stagnant the DAX peaks at 15,100 amid sluggish price action

Published: January 26 2023, 05:30 GMT+0

Stagnant the DAX peaks at 15,100 amid sluggish price action

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

This uncertain state for the DAX is reflected by published market data as new Business Climate Index data from Germany matched market expectations with a reading of 90.2 — a positive step in contrast to previous data of 88.6 from last month. Data from France concerning Jobseekers Total was released yesterday at 11:00 UTC. Newly published figures emphasized continued decline from last month's figure of 2.81 million to 2.82 million this month. 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 went up by 1.8% yesterday, and closed at 22,441. KOSPI Composite Index increases 1.19% yesterday and closed at 2,428.57. ASX 200 decreases 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 will be released 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 set 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%.

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