European Market

The German index starts the week on the front foot as European officials reassured markets over the health of the financial system, while the sale of failed SCV to First Citizens Bank helps sentiment

Banking giant UBS agreed to buy troubled Credit Suisse with the blessing of Swiss regulator and government, with authorities around the world striving to safeguard the financial system, as focus now shifts the US Fed’s policy decision

The European Central Bank abided by its stated intentions and raised rates by 0.5% on Thursday, as the SNB lifeline to Credit Suisse helped contained fears over the banking sector, following the recent rout

The GER30 weekly has charted a higher trough, followed by a higher peak. This is an uptrend. Its RSI remains on the bullish side of 50.

The GER30 has had a negative correlation to the US real rate since June 2021. Despite the geography, this makes a certain sense.

GER30 has bounced off of the support around the 15,260 level (green shaded horizontal). Since the beginning of February, it has been threatened seven times. Every time it has been defended.

After a profitable week, the German index starts the current one with caution amidst lack of catalysts, but a series of economic data is due over the following days

FXCM’s DAX cfd, GER30, has charted a strong bullish reversal pattern.

Both central banks raised their benchmark rates by another 0.5% as expected, but the Bank of England softened its messaging, whereas its European peer remained aggressive, despite some less hawkish elements

The German index is soft with the economy contracting in Q4 according to today’s preliminary data, but heads to the end of an impressive month, as markets brace for Thursday’s policy decision by the ECB

International stocks are performing better than their US counterparts. This outperformance has been since Q4 last year. In this article, we use GER30 as a proxy for international equities and refer to the US30, the best performing US large-cap index.