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  • cangelosi_g cangelosi_g Mar 2, 2012 9:02 AM Flag

    Normally ..

    The emphasis is on `normally`. The Dax has a lot of influence on traders sentiment in the US. There are times when the Euro markets effect our indexes. I just view the Dax as a heavy weights among them.
    We all `play games` ---especially on message boards.

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    • ----The emphasis is on `normally`. The Dax has a lot of influence on traders sentiment in the US. There are times when the Euro markets effect our indexes. I just view the Dax as a heavy weights among them.
      We all `play games` ---especially on message boards------

      You are even more clueless than I thought. The price of ABB on the New York exchange is directly in line with the Swiss exchange and has absolutely nothing to do with the DAX. The Swiss exchange opens at midnight Pacific time. Allowing for a 20 minute delay, you can check the price of ABB in Swiss francs. Then go to Kitco and check the exchange rate for the day. Take the price in Swiss francs and multiply by whatever the dollar value is and you have the price in US dollars. This amount may vary by a few cents but it always evens out within 24 hrs. The DAX is the German exchange and has nothing to do with the Swiss exchange or with ABB. Besides, Switzerland is not part of the European Union and is almost completely isolated from the European fiasco. If you don't know, the website for the Swiss echange and the ABB listing is as follows:

      http://www.six-swiss-exchange.com/shares/security_info_en.html?id=CH0012221716CHF1

      • 1 Reply to tommiller_25
      • > The DAX is the German exchange and has nothing to do with the Swiss exchange or with ABB. Besides, Switzerland is not part of the European Union and is almost completely isolated from the European fiasco. <

        This is not entirely true.

        ABB generates a significant percentage of sales in Europe and the DAX is a general barometer of Europe economic conditions.

        Furthermore, you will recall that Switzerland has committed to cap the exchange rate of their currency versus the Euro, so Euro currency moves can affect the Swiss Franc valuation, which in turn can impact global competitiveness of ABB and other Swiss firms.

        http://www.guardian.co.uk/business/2011/sep/06/switzerland-pegs-swiss-franc-euro

        The Swiss National Bank in effect devalued the franc, pledging to buy "unlimited quantities" of foreign currencies to force down its value. The SNB warned that it would no longer allow one Swiss franc to be worth more than €0.83 – equivalent to SFr1.20 to the euro – having watched the two currencies move closer to parity as Switzerland became a "safe haven" from the ravages of the eurozone crisis.

 
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