European Stocks Rally on ECB Rate Hike and Positive Chinese Data

European stocks experienced a significant surge on Friday, building upon their positive momentum from the prior session. This upswing was primarily driven by optimism surrounding the European Central Bank's likelihood of reaching a peak in interest rates.

During the previous day, the central bank implemented its 10th consecutive rate hike, amounting to a 25-basis point increase. However, it also indicated its potential willingness to halt further tightening of monetary policy due to signs of receding inflation.

Additionally, investors responded positively to the strong Chinese economic data that surpassed expectations, showcasing substantial growth in both industrial activity and retail sales.

In the corporate realm, fashion conglomerate H&M reported quarterly sales that remained stagnant, falling short of the anticipated figures.

DAX continues inside the range of 15500 and 16000. The wider price range encompasses support at 15,500 and resistance at the 16,400 level. In the short term, DAX went back toward the 15600 level after finding resistance at the 16000.

Resi Level 3	Resi Level 2	Resi Level 1	Suppo level 1	Suppo level 2	Suppo level 3
16600	16400	16000	15550	15400	15200