Daily Analysis DAX40 - 13 July 2023

On Thursday, European shares experienced a slight increase, driven by optimism fueled by U.S. inflation data. This data fueled hopes that the Federal Reserve is nearing the conclusion of its tightening cycle initiated after the COVID-19 pandemic. However, the overall market enthusiasm was tempered by a range of mixed economic indicators.

During the previous trading session, the benchmark index recorded its largest percentage gain since early June. This surge was a result of U.S. consumer inflation decelerating faster than anticipated, reinforcing expectations that the Federal Reserve might halt its interest rate hikes after July.

Nevertheless, market sentiment was somewhat subdued by weak trade data from China. On the positive side, the contraction of Britain's economy in May was less severe than anticipated.

The DAX, along with other global indices, is showing positive growth today. However, a significant challenge lies ahead as it needs to surpass the 16,400 level. In the short term, the DAX remains bullish due to the prevailing risk-on sentiment in the markets, driven by the anticipation of the Federal Reserve concluding its rate hikes.

Resi Level 3	Resi Level 2	Resi Level 1	Suppo level 1	Suppo level 2	Suppo level 3
16800	16600	16370	15650	15400	15200