This morning we see a heavy selloff in the early trading hours. We reached a new low @ 10.109 Points.(-3,12%) Responsible for that selloff are unexspected weak chinese economic data and the weak us-market-close. Furthermore the resign of the greek premier and the idea of new elections increased fear and insecurity again. The chinese industry dissapoints again: The Caixin-PMI für the manufacturing Industrie collapsed in August to 47,1 Points.(48,1e). Shanghai Composite closed -3,8%. Asian currencies are under pressure again and increase fear und unsecurity of an ASIA-crisis again.
Currencies are ruling the market! The greenback appreciated round about 25% within one year.This caused several things at the market: The revalued USD caused a commodity-bearmarket, bad Outlooks within the earning season and the simultaneous depreciation of the EURO caused a bullmarket in europe with bad Impacts for some emerging markets. The Oil Price crashed, Gold was weak. During the german market rallied from 09/2014 -04/2015 we saw a conolidation in the EURO and a Rally in the US-DOLLAR. Since Q2/15 we see a correction of the usd - dax consolidated. as Long this correction is going on - the german market will suffer from that