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DAX trades flat ahead of the ECB meet

FXStreet (Mumbai) - The German equity index is trading in a sideways manner ahead of the European Central Bank (ECB) rate decision, wherein the bank is widely expected to remain in a wait-and-watch mode.

The Dax is trading 0.06% lower at 9311 levels, compared to the previous session’s close of 9315.48 levels. The index breadth is negative with an advance decline ratio of 12:18. Among the stocks, the German cement maker HeidelbergCement gained 4.91% after posting a better-than-expected 10% rise in the core profits. Other index gainers are Beiersdorf AG, Adidas AG, Thyssenkrupp AG, Commerzbank AG. On the other hand, Lanxess AG and Ayer AG declined 1.73% and 1.41% respectively.

Meanwhile, the markets have not reacted much to the big miss in German factory orders data. Orders, adjusted for seasonal swings and inflation, rose 0.8% in September after a revised decline of 4.2% in August.

Dax Technical Levels

The index has an immediate resistance at 9343.63 (Nov. 3 high), above which the prices can rise to 9417 levels. Meanwhile,support is seen at 9230 and 9151 levels.

Netherlands, The Consumer Price Index n.s.a (YoY) up to 1.1% in October from previous 0.9%

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