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The DAX continues to recover from last week's sell-off, supported by easing energy concerns and improving short-term momentum. While buyers have regained control of the four-hour trend, the index is now approaching a critical resistance zone between 25,450 and 25,600. A decisive break higher would strengthen the bullish case and open the door toward 25,800, while failure at resistance could quickly revive downside pressure.
Global indices managed to bounce back towards the end of the week as risk mood improved following Thursday’s drop in bond yields and a slight decline in oil prices. But by late Friday afternoon, oil prices had made back most of Thursday’s drop and the bond markets remained under some pressure as European bourses closed for trading.
Markets went from risk off to risk on yesterday afternoon and we have since kicked on with some follow-up buying of stocks, gold and silver, while the dollar has also shown signs of weakness. Risk appetite turned positive after bond yields and oil prices both retreated yesterday.
GBP/USD falls below 1.32 after hawkish Fed minutes. DAX falls for a second day, testing a key support as bond yields rise.
EUR/USD falls to a 17-month low on French fiscal & Spanish political worries. DAX muted amid political instability in Europe.
GBP/USD struggles as UK government borrowing exceeds forecasts, putting pressure on Healey ahead of the Budget. DAX eases back after yesterday's gains as oil prices and political headwinds rise.
USD/JPY rises as U.S. Treasury yields rise above 5%. DAX slumps as bond rout continues and oil prices surge.
Following a weak handover from Asia, European markets and US indices were under pressure this morning, as rising oil prices and elevated bond yields once again weighed on risk appetite. Among the major European indices, the German DAX will be in firm focus this week, with the ECB’s rate decision coming up on Thursday. That decision is likely to be a hike, as rising oil prices threaten to re-accelerate inflation.
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