The German DAX erases previous gains to close lower. For the year, the German DAX closed in the dark after strong gains this month
The main European equities ended the session lower. The German DAX and UK FTSE erased earlier gains to close near session lows.
The temporary fences show:
- German DAX, -0.3%
- CAC of France, -0.7%
- UK FTSE 100, -1.0%
- Ibex from Spain, -0.9%
- Italy FTSE MIB, -0.7%
For the month, the main indices closed sharply higher:
- German DAX, + 15.01%
- CAC of France, + 20.12%
- British FTSE 100, + 12.93%
- Ibex from Spain, + 25.18%
- Italy FTSE MIB, + 22.95%
For the year, the German DAX closes the month with a gain of for the year. The other major indices are still lower, but with this month’s big gains, a lot of the declines have been erased:
- German DAX, + 0.32%
- CAC of France, -7.69%
- UK FTSE 100, -16.5%
- Ibex from Spain, -15.42%
- Italy FTSE MIB, -6.15%
Looking at the daily chart, today’s price high fell just below the September high of 13,460.46. The high price reached 13445411 before turning lower. The high price of the year was back on February 17 at 13,795.24. The low price for the year hit 8,255.65 in March. Since then, the index has risen 60.74% from its lows. Technically, the German DAX has gone over
In other markets, as London / European traders seek to exit:
- spot gold is trading down $ 5.44 or -0.31% to $ 1,782.29
- Cash is trading down $ 0.05 or -0.22% to $ 22.52.
- WTI crude oil futures are down $ 0.62 -1.36% from $ 44.91
- Bitcoin on the Coinbase exchange traded as high as $ 19,873.23. According to the exchange, this was a new all-time high (on Coinbase, the high is $ 19,891.99).
In the US stock market, the current market snapshot shows widespread declines:
- S&P index -33 points or -0.90% to 3,605.55
- NASDAQ index -76.5 points or -0.63% to 12,130
- Dow industrial average -384 points or -1.29% to 29,524.90
In forex, the GBP has taken over from the CAD as the strongest of the majors. AUD is still the weakest. The USD has gone from a predominantly negative to a predominantly positive state against major currencies. It is now higher against EUR, JPY, AUD and NZD and lower against GBP. It is virtually unchanged against the CHF and the CAD.