DAX (Germany 40) overview
The DAX 40 (formerly DAX 30, expanded to 40 constituents in 2021) is Germany’s primary equity benchmark and the most widely-traded European index CFD. Heavy weights include SAP, Siemens, Allianz, Deutsche Telekom, and Volkswagen. DAX is a total-return index (dividends reinvested) — important to remember when comparing to FTSE or CAC price returns.
What moves DAX
- ECB monetary policy — rate decisions, Lagarde speeches
- German + EU PMIs — manufacturing PMI especially (DAX is industrial-heavy)
- EUR/USD — euro weakness boosts DAX (German exporters benefit)
- China demand signals — German industrial constituents export heavily to China
- US session open — DAX often follows US equity direction in the overlap (13:30–17:30 UTC)
Typical spread
DAX CFDs quote at 0.8–1.5 points on tier-1 brokers during European session, 2.0–5.0 points outside European hours.