The S&P 500 is trading unchanged, the DAX is down 0.96% having retraced more than 1% from its lows. Banking stocks are once again on the losing side. Deutsche Bank is down 4.69% and Commerzbank down 6.77%. Deutsche Bank reaching levels under 10€ for the first time, before retracing 4% over 10€. Some analysts regards Deutsche´s loses as overdone, pointing out liquidity reserves of 223 billion €, these form 20% of the whole balance sheet. Commerzbank´s CEO Manfred Zielke has unveiled his new strategy, which mainly involves cutting jobs. We expect an unchanged open to Wall Street. The USD trades up. Gold rises and Oil shows slight loses.
The S&P 500 is in a sideways trend. Resistance is at 2200 and support at 2115.
The Nasdaq 100 is in an upward trend.
RoboForex Analytical Department
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