GER30 Under Renewed Pressure as Industrial Production Falls
The German index started the week on the front foot, but plunged yesterday as market sentiment soured, extending losses today as industrial production drops
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The German index started the week on the front foot, but plunged yesterday as market sentiment soured, extending losses today as industrial production drops
The Dow Jones Industrial Average (DJI) jumped 2.8% yesterday after Fed Chair Jerome Powell said that the FOMC wasn't actively considering a 75bps hike. Instead, he suggested that 50bps was on the table for the next two meetings. This dovishness came after the Fed delivered a 50bps increase, in line with market expectations. It also clarified its balance sheet reduction, starting with $47.5bn/month in June and increasing over three months…
The US30 is looking fragile ahead of today's cash open.
The German index recovers form fresh monthly lows and shakes-off worries around the supply of gas to Europe
The DAX bounce may have run its course as the index reacts off of crucial resistance.
As yields rise, pressure mounts on global indices, including the GER30.
The US30 has retraced to its 61.8% level. It is looking formidable.
The US tech index is soft today, on broader cautious market mood, while investors gear up for earning reports from Netflix today and Tesla on Wednesday
Shorts may take advantage of the CPI print to take profits. This covering may lead to risk market support.
The German index started the week on the back foot and sets fresh monthly lows today, with investors on edge as they monitor various risk factors, such as the Covid-19 situation in China and inflation
Markets started the day in a seemingly good mod as the week draws to an end, with GER30 eyeing key levels and trying for a profitable close
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