DAX – PMIs paint a bleak picture for manufacturing but China offers hope

<p><a href="https://api.addthis.com/oexchange/0.8/forward/facebook/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Findices%2Fdax-pmis-paint-a-bleak-picture-for-manufacturing-but-china-offers-hope%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/facebook.png" border="0" alt="Facebook" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/twitter/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Findices%2Fdax-pmis-paint-a-bleak-picture-for-manufacturing-but-china-offers-hope%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/twitter.png" border="0" alt="Twitter" /></a><a href="https://api.addthis.com/oexchange/0.8/forward/email/offer?url=https%3A%2F%2Fwww.marketpulse.com%2Findices%2Fdax-pmis-paint-a-bleak-picture-for-manufacturing-but-china-offers-hope%2Fcerlam&amp;pubid=ra-525512e4690e068c&amp;title=Marketpulse%20%7C%20Home&amp;ct=1" target="_blank"><img src="https://cache.addthiscdn.com/icons/v3/thumbs/32×32/email.png" border="0" alt="Email" /></a></p><ul>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Manufacturing PMIs released throughout the day have made for pretty miserable reading and even those in China barely registered any growth after a lengthy period of contraction."}]}" data-slate-node="element"><strong>Manufacturing remains in trouble</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Manufacturing PMIs released throughout the day have made for pretty miserable reading and even those in China barely registered any growth after a lengthy period of contraction."}]}" data-slate-node="element"><strong>China seeing some growth but unconvincing</strong></li>
<li data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Manufacturing PMIs released throughout the day have made for pretty miserable reading and even those in China barely registered any growth after a lengthy period of contraction."}]}" data-slate-node="element"><strong>Bearish confirmation for DE30 index</strong></li>
</ul>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"Manufacturing PMIs released throughout the day have made for pretty miserable reading and even those in China barely registered any growth after a lengthy period of contraction."}]}" data-slate-node="element"><span data-slate-node="text">Manufacturing PMIs released throughout the day have made for pretty miserable reading and even those in China barely registered any growth after a lengthy period of contraction.</span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The Chinese data did offer some cause for hope at least, despite ultimately barely sitting in growth territory. The trajectory is positive and boosted by targeted stimulus measures that are seemingly working. External demand remains a problem but a bump in domestic demand is promising."}]}" data-slate-node="element"><span data-slate-node="text">The Chinese data did offer some cause for hope at least, despite ultimately barely sitting in growth territory. The trajectory is positive and boosted by targeted stimulus measures that are seemingly working. External demand remains a problem but a bump in domestic demand is promising.</span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The sector in Europe is looking particularly grim with demand remaining extremely weak, backlogs falling and layoffs expected to accelerate over the months ahead. That's unless we can see a rebound in activity which is looking very unlikely at this stage with the global economy struggling for any positive momentum against the backdrop of high interest rates."}]}" data-slate-node="element"><span data-slate-node="text">The sector in Europe is looking particularly grim with demand remaining extremely weak, backlogs falling and layoffs expected to accelerate over the months ahead. That’s unless we can see a rebound in activity which is looking very unlikely at this stage with the global economy struggling for any positive momentum against the backdrop of high interest rates.</span></p>
<p class="_ParagraphElement_yyl4z_19" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="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"><span data-slate-node="text">The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain “higher for longer”, things aren’t likely to dramatically improve for the sector.</span></p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="JTVCJTdCJTIydHlwZSUyMiUzQSUyMnBhcmFncmFwaCUyMiUyQyUyMmNoaWxkcmVuJTIyJTNBJTVCJTdCJTIydGV4dCUyMiUzQSUyMk1hbnVmYWN0dXJpbmclMjBQTUlzJTIwcmVsZWFzZWQlMjB0aHJvdWdob3V0JTIwdGhlJTIwZGF5JTIwaGF2ZSUyMG1hZGUlMjBmb3IlMjBwcmV0dHklMjBtaXNlcmFibGUlMjByZWFkaW5nJTIwYW5kJTIwZXZlbiUyMHRob3NlJTIwaW4lMjBDaGluYSUyMGJhcmVseSUyMHJlZ2lzdGVyZWQlMjBhbnklMjBncm93dGglMjBhZnRlciUyMGElMjBsZW5ndGh5JTIwcGVyaW9kJTIwb2YlMjBjb250cmFjdGlvbi4lMjIlN0QlNUQlN0QlMkMlN0IlMjJ0eXBlJTIyJTNBJTIycGFyYWdyYXBoJTIyJTJDJTIyY2hpbGRyZW4lMjIlM0ElNUIlN0IlMjJ0ZXh0JTIyJTNBJTIyVGhlJTIwQ2hpbmVzZSUyMGRhdGElMjBkaWQlMjBvZmZlciUyMHNvbWUlMjBjYXVzZSUyMGZvciUyMGhvcGUlMjBhdCUyMGxlYXN0JTJDJTIwZGVzcGl0ZSUyMHVsdGltYXRlbHklMjBiYXJlbHklMjBzaXR0aW5nJTIwaW4lMjBncm93dGglMjB0ZXJyaXRvcnkuJTIwVGhlJTIwdHJhamVjdG9yeSUyMGlzJTIwcG9zaXRpdmUlMjBhbmQlMjBib29zdGVkJTIwYnklMjB0YXJnZXRlZCUyMHN0aW11bHVzJTIwbWVhc3VyZXMlMjB0aGF0JTIwYXJlJTIwc2VlbWluZ2x5JTIwd29ya2luZy4lMjBFeHRlcm5hbCUyMGRlbWFuZCUyMHJlbWFpbnMlMjBhJTIwcHJvYmxlbSUyMGJ1dCUyMGElMjBidW1wJTIwaW4lMjBkb21lc3RpYyUyMGRlbWFuZCUyMGlzJTIwcHJvbWlzaW5nLiUyMiU3RCU1RCU3RCUyQyU3QiUyMnR5cGUlMjIlM0ElMjJwYXJhZ3JhcGglMjIlMkMlMjJjaGlsZHJlbiUyMiUzQSU1QiU3QiUyMnRleHQlMjIlM0ElMjJUaGUlMjBzZWN0b3IlMjBpbiUyMEV1cm9wZSUyMGlzJTIwbG9va2luZyUyMHBhcnRpY3VsYXJseSUyMGdyaW0lMjB3aXRoJTIwZGVtYW5kJTIwcmVtYWluaW5nJTIwZXh0cmVtZWx5JTIwd2VhayUyQyUyMGJhY2tsb2dzJTIwZmFsbGluZyUyMGFuZCUyMGxheW9mZnMlMjBleHBlY3RlZCUyMHRvJTIwYWNjZWxlcmF0ZSUyMG92ZXIlMjB0aGUlMjBtb250aHMlMjBhaGVhZC4lMjBUaGF0J3MlMjB1bmxlc3MlMjB3ZSUyMGNhbiUyMHNlZSUyMGElMjByZWJvdW5kJTIwaW4lMjBhY3Rpdml0eSUyMHdoaWNoJTIwaXMlMjBsb29raW5nJTIwdmVyeSUyMHVubGlrZWx5JTIwYXQlMjB0aGlzJTIwc3RhZ2UlMjB3aXRoJTIwdGhlJTIwZ2xvYmFsJTIwZWNvbm9teSUyMHN0cnVnZ2xpbmclMjBmb3IlMjBhbnklMjBwb3NpdGl2ZSUyMG1vbWVudHVtJTIwYWdhaW5zdCUyMHRoZSUyMGJhY2tkcm9wJTIwb2YlMjBoaWdoJTIwaW50ZXJlc3QlMjByYXRlcy4lMjIlN0QlNUQlN0QlMkMlN0IlMjJ0eXBlJTIyJTNBJTIycGFyYWdyYXBoJTIyJTJDJTIyY2hpbGRyZW4lMjIlM0ElNUIlN0IlMjJ0ZXh0JTIyJTNBJTIyVGhlJTIwUE1JcyUyMGZyb20lMjB0aGUlMjBVUyUyMHdlcmUlMjBhJTIwbGl0dGxlJTIwYmV0dGVyJTJDJTIwcGFydGljdWxhcmx5JTIwdGhlJTIwSVNNJTIwcmVhZGluZyUyMHdoaWNoJTIwc2lnbmlmaWNhbnRseSUyMGJlYXQlMjBleHBlY3RhdGlvbnMlMjBidXQlMjBldmVuJTIwaGVyZSUyQyUyMGl0JTIwcmVtYWlucyUyMGJlbG93JTIwNTAlMjBhbmQlMjB0aGVyZWZvcmUlMjBpbiUyMGNvbnRyYWN0aW9uJTIwdGVycml0b3J5LiUyMFdpdGglMjBpbnRlcmVzdCUyMHJhdGVzJTIwc2V0JTIwdG8lMjByZW1haW4lMjAlNUMlMjJoaWdoZXIlMjBmb3IlMjBsb25nZXIlNUMlMjIlMkMlMjB0aGluZ3MlMjBhcmVuJ3QlMjBsaWtlbHklMjB0byUyMGRyYW1hdGljYWxseSUyMGltcHJvdmUlMjBmb3IlMjB0aGUlMjBzZWN0b3IuJTIwJTIyJTdEJTVEJTdEJTVE"><iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/hJQjVpFshpQ?si=vDFFUo8UGZ9QZeMv" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="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"><strong>A very bearish signal for the DAX</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="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">The DE30 turned lower again today after staging a mild recovery in recent sessions and the move could reinforce bearish views on the index.</p>
<p style="text-align: center" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="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"><strong>DE30 Daily</strong></p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="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"><a href="https://www.marketpulse.com/wp-content/uploads/2023/10/DE30EUR_2023-10-02_21-43-27.png" target="_blank" rel="noopener"><img loading="lazy" class="aligncenter wp-image-807888" src="https://www.marketpulse.com/wp-content/uploads/2023/10/DE30EUR_2023-10-02_21-43-27-1024×436.png" alt="" width="620" height="264" srcset="https://www.marketpulse.com/wp-content/uploads/2023/10/DE30EUR_2023-10-02_21-43-27-1024×436.png 1024w, https://www.marketpulse.com/wp-content/uploads/2023/10/DE30EUR_2023-10-02_21-43-27-300×128.png 300w, https://www.marketpulse.com/wp-content/uploads/2023/10/DE30EUR_2023-10-02_21-43-27-768×327.png 768w, https://www.marketpulse.com/wp-content/uploads/2023/10/DE30EUR_2023-10-02_21-43-27-1536×654.png 1536w, https://www.marketpulse.com/wp-content/uploads/2023/10/DE30EUR_2023-10-02_21-43-27.png 1793w" sizes="(max-width: 620px) 100vw, 620px" /></a></p>
<p style="text-align: right" data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="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">Source – OANDA on Trading View</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="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">The reason is that the move lower came after a retest of the 200/233-day simple moving average band, following the breakout last week. The rotation lower now could be viewed as confirmation of the breakout and therefore a bearish signal.</p>
<p data-slate-block="regular" data-slate-type="paragraph" data-slate-value="{"type":"paragraph","children":[{"text":"The PMIs from the US were a little better, particularly the ISM reading which significantly beat expectations but even here, it remains below 50 and therefore in contraction territory. With interest rates set to remain "higher for longer", things aren't likely to dramatically improve for the sector. "}]}" data-slate-node="element" data-slate-fragment="JTVCJTdCJTIydHlwZSUyMiUzQSUyMnBhcmFncmFwaCUyMiUyQyUyMmNoaWxkcmVuJTIyJTNBJTVCJTdCJTIydGV4dCUyMiUzQSUyMk1hbnVmYWN0dXJpbmclMjBQTUlzJTIwcmVsZWFzZWQlMjB0aHJvdWdob3V0JTIwdGhlJTIwZGF5JTIwaGF2ZSUyMG1hZGUlMjBmb3IlMjBwcmV0dHklMjBtaXNlcmFibGUlMjByZWFkaW5nJTIwYW5kJTIwZXZlbiUyMHRob3NlJTIwaW4lMjBDaGluYSUyMGJhcmVseSUyMHJlZ2lzdGVyZWQlMjBhbnklMjBncm93dGglMjBhZnRlciUyMGElMjBsZW5ndGh5JTIwcGVyaW9kJTIwb2YlMjBjb250cmFjdGlvbi4lMjIlN0QlNUQlN0QlMkMlN0IlMjJ0eXBlJTIyJTNBJTIycGFyYWdyYXBoJTIyJTJDJTIyY2hpbGRyZW4lMjIlM0ElNUIlN0IlMjJ0ZXh0JTIyJTNBJTIyVGhlJTIwQ2hpbmVzZSUyMGRhdGElMjBkaWQlMjBvZmZlciUyMHNvbWUlMjBjYXVzZSUyMGZvciUyMGhvcGUlMjBhdCUyMGxlYXN0JTJDJTIwZGVzcGl0ZSUyMHVsdGltYXRlbHklMjBiYXJlbHklMjBzaXR0aW5nJTIwaW4lMjBncm93dGglMjB0ZXJyaXRvcnkuJTIwVGhlJTIwdHJhamVjdG9yeSUyMGlzJTIwcG9zaXRpdmUlMjBhbmQlMjBib29zdGVkJTIwYnklMjB0YXJnZXRlZCUyMHN0aW11bHVzJTIwbWVhc3VyZXMlMjB0aGF0JTIwYXJlJTIwc2VlbWluZ2x5JTIwd29ya2luZy4lMjBFeHRlcm5hbCUyMGRlbWFuZCUyMHJlbWFpbnMlMjBhJTIwcHJvYmxlbSUyMGJ1dCUyMGElMjBidW1wJTIwaW4lMjBkb21lc3RpYyUyMGRlbWFuZCUyMGlzJTIwcHJvbWlzaW5nLiUyMiU3RCU1RCU3RCUyQyU3QiUyMnR5cGUlMjIlM0ElMjJwYXJhZ3JhcGglMjIlMkMlMjJjaGlsZHJlbiUyMiUzQSU1QiU3QiUyMnRleHQlMjIlM0ElMjJUaGUlMjBzZWN0b3IlMjBpbiUyMEV1cm9wZSUyMGlzJTIwbG9va2luZyUyMHBhcnRpY3VsYXJseSUyMGdyaW0lMjB3aXRoJTIwZGVtYW5kJTIwcmVtYWluaW5nJTIwZXh0cmVtZWx5JTIwd2VhayUyQyUyMGJhY2tsb2dzJTIwZmFsbGluZyUyMGFuZCUyMGxheW9mZnMlMjBleHBlY3RlZCUyMHRvJTIwYWNjZWxlcmF0ZSUyMG92ZXIlMjB0aGUlMjBtb250aHMlMjBhaGVhZC4lMjBUaGF0J3MlMjB1bmxlc3MlMjB3ZSUyMGNhbiUyMHNlZSUyMGElMjByZWJvdW5kJTIwaW4lMjBhY3Rpdml0eSUyMHdoaWNoJTIwaXMlMjBsb29raW5nJTIwdmVyeSUyMHVubGlrZWx5JTIwYXQlMjB0aGlzJTIwc3RhZ2UlMjB3aXRoJTIwdGhlJTIwZ2xvYmFsJTIwZWNvbm9teSUyMHN0cnVnZ2xpbmclMjBmb3IlMjBhbnklMjBwb3NpdGl2ZSUyMG1vbWVudHVtJTIwYWdhaW5zdCUyMHRoZSUyMGJhY2tkcm9wJTIwb2YlMjBoaWdoJTIwaW50ZXJlc3QlMjByYXRlcy4lMjIlN0QlNUQlN0QlMkMlN0IlMjJ0eXBlJTIyJTNBJTIycGFyYWdyYXBoJTIyJTJDJTIyY2hpbGRyZW4lMjIlM0ElNUIlN0IlMjJ0ZXh0JTIyJTNBJTIyVGhlJTIwUE1JcyUyMGZyb20lMjB0aGUlMjBVUyUyMHdlcmUlMjBhJTIwbGl0dGxlJTIwYmV0dGVyJTJDJTIwcGFydGljdWxhcmx5JTIwdGhlJTIwSVNNJTIwcmVhZGluZyUyMHdoaWNoJTIwc2lnbmlmaWNhbnRseSUyMGJlYXQlMjBleHBlY3RhdGlvbnMlMjBidXQlMjBldmVuJTIwaGVyZSUyQyUyMGl0JTIwcmVtYWlucyUyMGJlbG93JTIwNTAlMjBhbmQlMjB0aGVyZWZvcmUlMjBpbiUyMGNvbnRyYWN0aW9uJTIwdGVycml0b3J5LiUyMFdpdGglMjBpbnRlcmVzdCUyMHJhdGVzJTIwc2V0JTIwdG8lMjByZW1haW4lMjAlNUMlMjJoaWdoZXIlMjBmb3IlMjBsb25nZXIlNUMlMjIlMkMlMjB0aGluZ3MlMjBhcmVuJ3QlMjBsaWtlbHklMjB0byUyMGRyYW1hdGljYWxseSUyMGltcHJvdmUlMjBmb3IlMjB0aGUlMjBzZWN0b3IuJTIwJTIyJTdEJTVEJTdEJTVE">The next potential area of support could be seen around 15,000 where prior support and resistance falls around the bottom of the descending channel.</p>