Modest gains before the start of the European trading session

21.09.2018 / 08:00

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Futures of major European indices point to modest increases over closing levels in the last trading session this week. The main reason for this is the inconclusive graphics.
The German DAX remains in broad consolidation and traders prefer to wait until the start of the new week before deciding on their next deals. Today we expect the production PMI data in Germany. The world's fourth-largest economy is largely production-oriented, so these news will impact the short-term index trend during the first half of the session. At 14:00 hours / right at the end of the lunch break in City of London /, the real trading volumes will come along with the wake of Wall Street. Then the picture will be fully drawn and will determine what will be the end of this week.

Good news from China that they are considering reducing import taxes will also have a positive effect on the euro-markets, which will almost certainly be a major trading factor on the list of benefactors.

Indicative opening prices:
DAX: 12,363
CAC: 5,459
UKX: 7,384

Trader Aleksandar Kumanov

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Modest gains before the start of the European trading session

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