Snapshot: The DAX is holding gains above 24,400, boosted by sustained optimism in AI and earnings season despite political uncertainties. Declining German HICP inflation to 2% YoY (as of December 2025) is offering the ECB room to maintain its current policy. Today’s catalyst is whether the German index can hold support if US yields continue trending upward.
- Watch 24,500; a break above confirms the bullish trend.
- Risk: A reversal in US yields could trigger a DAX correction.
Bias into NY: Bullish above 24,400, supported by the global chip rally, with Infineon leading the gains. Sustained strength in US real yields above 2% may curb the upside.