Snapshot: The DAX 40 has cleared the 25,000 milestone for the first time since early June, extending its winning streak to a sixth session. The rally is fundamentally underpinned by domestic wage data showing stable Eurozone negotiated wage pressures for 2026, reinforcing German HICP at its 2% target. A structural boost from falling energy prices—WTI dropping to 84.65 on a Strait of Hormuz shipping truce—is supercharging energy-sensitive industrials and tech peers like Infineon.
- Key Levels: Having printed above 25,000, the German index finds immediate structural support at the 24,850 previous consolidation band. The ECB’s constructive wage tracker suggests the path of least resistance remains lower for yields and higher for equities.
- NY Session Risk: While domestic fundamentals are highly supportive, the upcoming US 08:30 ET data block poses transient headline risk if a hot print triggers a hawkish reaction in US Treasury yields from their current 4.43% base.
Bias into NY: Tactically bullish above 25,000, targeting 25,180. Stable domestic wage metrics and structural tailwinds from the shipping agreement should absorb any pre-open US macro noise.