Dax

DAX steadies around a record high. USD/JPY is muted ahead of Trump's speech & BoJ rate decision.

With the US out, it has understandably been a quiet day so far in Europe where major indices were trading mixed but holding onto their recent impressive gains. Some of the major European indices hit new record highs last week, including the high-flying German DAX index.

EUR/USD rises as the mood improves and ahead of US PPI. DAX rises on hopes of gradual trade tariffs.

European stocks traded mixed with Spain’s Ibex rising to a fresh weekly high and Germany’s DAX off its earlier lows at mid-day in London as government bond yields eased off their earlier highs.

DAX rises for a third session despite weak data. USD/JPY rises on USD strength ahead of Fed minutes & ADP payrolls

DAX analysis: After climbing an impressive 18% last year and 20% the year before, the DAX has made a decent start to the new year, up a good 2.2% year-to-date. But it is early days and with valuations looking a little stretched and the economy not doing so well, we could see correction first before the market resumes higher.

DAX rises after PMIs improve; inflation data is due. Oil eases after 5% gains last week.

DAX falls as inflation rises & SAP drops. FTSE falls after disappointing China trade data.

This week’s US inflation data may impact Wall Street but will likely have limited implications for European indices. But one factor that is certainly weight on sentiment on this side of the pond is political uncertainty in Germany. Against this backdrop, our DAX forecast is turning bearish in the short term, especially if the German index now breaks a key support area that it was testing at the time of writing.

GBP/USD falls as unemployment rises. DAX falls as Trump risks hit sentiment.

GBP/USD falls on USD strength as Trump is set to win Presidency. DAX rises as Trump claims victory.

USD/JPY rises cautiously on US Election Day. DAX muted in nervous trade ahead of the elections.

With the US election now just one day away, things can turn rapidly across financial markets, particularly because this is turning out to be such a close election and the polls cannot and should not be trusted. Given the fact that the DAX has weakened in the last couple of weeks, this also argues against a sustainable recovery as the prior bullish momentum has been lost.

You would have thought that on the back of a stronger showing from the Eurozone GDP that the DAX and other European indices would have been rallying today. Well, that hasn’t been quite the case as traders digested a deluge of mixed earnings while the handover from China was again not great with the markets there falling. Meanwhile, a technical breakdown means the DAX forecast has turned somewhat bearish in the near-term outlook.

DAX rises as consumer confidence improves and earnings roll in. GBP/USD holds steady ahead of tomorrow's Budget.

Oil slumps 5% as the geopolitical risk premium falls. DAX rises ahead of a key week for global risk events.

The DAX was trading slightly lower, down for the third consecutive day, although it was only around 1.5% off from the recently achieved record high. Far from a turmoil, in other words. But equally, the loss of bullish momentum may be a sign that the markets could go in reverse soon.