GER30 Subdued, Awaiting a Slew of Economic Releases
GER30 Analysis
The German index has been recovering since its October multi-month lows and got off to a strong 2023 start, on optimism around the European economy. The Euro Area avoided an economic contraction in Q4, according to preliminary data, while the EU Commission raised its forecasts this week, expecting GDP growth of 0.9% this year (from 0.3% previously). [1]
Focus now shifts to tomorrow's preliminary PMIs, for a fresh gauge of the state of the European and German economies, as well as sentiment surveys, inflation data and more over the following days.
GER30 has been resilient to the aggressive tightening by the European Central Bank and hawkish commentary from policy makers since then. The central bank hiked rates by 0.5% at the start of February and stated its intention for another move of this size next month, with Ms Lagarde not expecting that to be the peak. [2]
GER30 has 15,739 in its crosshairs, which could open the door to the record highs set a little over a year ago (16,302). However, progress has been slow recently and a slide towards the EMA200 (15,200-15,130) would not be surprising. Daily closes below it could accelerate a correction below 15K, but a strong catalyst would likely be needed for that.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
References
| Retrieved 20 Feb 2023 https://ec.europa.eu/commission/presscorner/detail/en/ip_23_707 | |
| Retrieved 11 May 2026 https://www.ecb.europa.eu/press/pressconf/2023/html/ecb.is230202~4313651089.en.html |
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