Dax

GBP/USD claws higher ahead of US data. DAX falls on tariff worries & with PMI data in focus.

DAX slumps on trade tariff worries, EZ CPI rises. Oil jumps after Trump announces trade tariffs on Canada & Mexico & ahead of the OPEC meeting

DAX reaches record highs ahead of ECB rate decision. GBP/USD holds steady around 1.2450 post-Fed & ahead of US data

DAX rises as tech jitters calm & attention turns to the ECB rate decision. GBP/USD edges higher ahead of the FOMC rate decision.

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.

In Europe, concerns about US tariffs, a struggling Eurozone economy and political uncertainty in France and Germany are continuing to hold back risk assets. France's CAC index is now nearly 6% lower on the year. The DAX forecast is also far from bullish, with a key drag being the European auto sector’s reaction to potential tariff threats.

USD/CAD rises after Trump’s tariff threat. DAX falls on trade worries.

GBP/USD gives up earlier gains after hotter inflation. DAX rises as geopolitical worries ease, Nvidia earnings come into focus.

DAX rises with attention on EZ CPI & Trump appointments. GBP/USD falls ahead of BoE Bailey’s appearance & tomorrow’s CPI 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.