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DAX Index Daily Fundamental Forecast – December 14, 2017

We have been mentiomnning repeatedly in our forecasts on how the DAX has been caught in a tight range over the last few weeks and that it is likely to continue to be so over the next couple of weeks as well. We saw more of the same yesterday as well as the index traded below the 13200 region for most of the day and ended the day above 13000.

DAX Trades Quietly

Many of the global news seem to have had very little impact on the index as it continued on its quiet ways. The Fed hiked rates and Trump also announced that he would be handing out a great tax reform package for the US over the next couple of weeks but all this seems to have had little impact on the global markets so far. One of the reasons is the fact that the DAX continues to be under pressure from the Brexit process which has not had the progress that the market expected it to have.

DAX Hourly
DAX Hourly

There is still a lot of uncertainty around it and the fact that there is a huge delay is not only affecting the UK but it is beginning to affect the Eurozone as well. There are 2 main things that the Brexit talks have to deal with and those are around the funds that the UK has to pay to the Eurozone and the trade access that the UK is going to get in return. These are the major sticking points as far as the talks are concerned and added to this mix is the disagreement over the Irish borders which the UK has to deal with. The UK PM May has been struggling to convince her coalition partners from Ireland over it but it still seems to be a bit of a challenge.

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These factors are weighing not only on the DAX but overall on all the European stock markets and with us now approaching the end of the year, it is safe to assume that there would not be much action in the markets towards the end of the year.

This article was originally posted on FX Empire

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