Snapshot: The DAX 40 has cleared the 25,000 handle to trade at its highest level since early June, underpinned by domestic validation from the ECB’s latest tracker showing stable Eurozone wage pressures and HICP holding at the 2.0% target. This supportive local macro setup is reinforced by a sharp 4.48% drop in WTI crude to $84.65 on the US-Iran interim shipping deal, relieving pressure on energy-intensive German industrials.
- Key Levels & Techs: The breakout above 25,000 is backed by a 4% surge in Infineon and a 2.2% gain in Siemens Energy, with JP Morgan’s call to buy European stocks triggering a late-stage short squeeze in German names.
- US Session Catalyst: The 08:30 ET US macro prints present the main threat to this momentum; any upward pressure on the US 10-year yield (currently at 4.43%) could quickly damp global equity risk appetite.
Bias into NY: Bullish above 24,920. The combination of anchored Eurozone wage dynamics and lower energy input costs should keep the index bid toward 25,150, unless US yields spike post-data.