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DAX and FTSE mixed as markets take a breather after yesterday’s selloff


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  • dx 40,Marginal profit as it tries to recover yesterday’s loss,
  • FTSE 100,Market volatility magnifies losses as inflation eases.

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DAX 40: Marginal profit as it attempts to recover yesterday’s loss

dex European trade posted marginal gains as it looked to recover some of yesterday’s losses. The index joins global equities in a rout after yesterday US CPI Print, with the belief that the Fed will be dogmatic for much longer. The gains made at the end of last week and earlier this week were surrendered as we once again hit the 13000 key level.

The eurozone posted a sharp decline in industrial output, reversing gains made in the months of May and June. Germany, Spain and France were among the countries that saw a significant drop in production, while supply constraints remain an issue. The outlook going forward paints a grim picture with supply problems and energy prices now affecting other industries as well as a slowdown in new orders; Don’t expect a production boom anytime soon. This will certainly weigh on companies in the Eurozone as we approach the end of the year and will undoubtedly have an impact on the profitability of the companies listed on the index.

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On the energy front, Germany is now looking at the possibility of nationalizing the beleaguered power utility provider Unipar SE to advance energy sustainability. The utility lost approximately EUR12 billion in the first half of the year. Unipar, which has already received assistance from the government, needs more help. The government took a 50% stake in July or a 30% stake after the rescue package with the idea now for full nationalisation. Uniper shares fell up to 10% during the session.

DAX 40 Daily Chart – September 14,2022

DAX daily chart

Source: trading view

From a technical standpoint, last week’s bullish close was followed by early week gains. However, yesterday witnessed a change in sentiment which stood with several technical conundrums. We saw a selloff of around 480 points, which coincided with 50% fib level, trendline as well as the 100-SMA. Closes as a daily candle bearish candle As the 13000 key level and pointing down now back in touch distance.

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FTSE 100: Market turmoil, easing inflation led losses widen

blue-chip index European trade struggled to post any gains even with a decline in UK inflation numbers, indicating dominance of the macro environment at the moment. UK core inflation increased marginally, indicating that inflation may be embedded in the economy. Meanwhile, London home prices continued to rise despite rising inflation and rising cost of living. Average home value jumped 9% for the year, its fastest pace since 2016. Nationally, prices are rising at their fastest pace since May 2003, according to the Office for National Statistics.

The index remains under pressure and range bound as we struggle to find long term direction. As data releases and overall market sentiment continues to move, the central bank meeting next week may clear the longer-term picture.

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FTSE 100 Daily Chart – September 14,2022

FTSE daily chart

Source:trading view

FTSE remains under the pressure of yesterday slump close On the daily time frame keeping the index within its range. The range between 7600 and 7000 has remained strong, with choppy price action to boot. We have seen lower highs followed by higher lows as price action gives mixed signals on the higher time frame. we do business below 20,50 and 100-SMA With strong support areas currently below the 7300 area. Traders may find better value viewing the shorter time frame as the daily time frame remains volatile.

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Written by: Zain Vavada, Writer for Market DailyFX.com

Contact and follow Jain on Twitter: @zvawda



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