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DAX 30 Forecast: Testing Support as Correction Looms Key Talking Points: Momentum indicators show a mixed picture After a strong start to the week last Monday and a subsequent reversal on Tuesday, the DAX 30 wasn’t able to consolidate any momentum during the rest of last week. The German index has held still around the 15,225 area, which has allowed the ascending trendline support to catch up with current prices, putting the bullish trend under pressure. Advertisement The long-term forecast continues to show positive momentum but the current set-up is signaling that buy...

Mexican Inflation Shoots Up, USD/MXN Awaiting Banxico Meeting Minutes for Guidance Key Talking Points: Mexican CPI shoots up above 3% target Advertisement Mexico’s inflation data for March has shot up as expected, with the CPI reading coming in at 4.67% year on year, and the monthly core CPI reading actually coming in above expectations at 0.54% (Exp. 0.52%). The yearly figure continues to rise above Banxico’s target of 3% and is confirming the trend of rising prices as the country attempts to recover from the Covid-19 pandemic. This follows on from a halt in the rate...

DAX 30 Forecast: Soaring to New Highs, Eyeing 15,500 Key Talking Points: Concerns over blood clots after AZ vaccine is turning sentiment Despite the Easter holiday, the DAX 30 hasn’t taken a breather since last Tuesday and has seen new all-time highs every day since the month of April started, now just shy of the 15,500 level. The German index has been on a strong bullish trend since it tore through strong resistance at 14,141 at the beginning of March. Despite increasing worries about the economic effect of a third wave of Covid-19 in Europe, the DAX 30 is in a strong position to consolid...

IBEX 35, CAC 40 Forecast: Treading on Water as Europe Struggles to Contain the Virus Key Talking Points: Rising bond yields and Covid-19 third-wave fears cause investors to be cautious IBEX 35 and CAC 40 stay trapped below recent highs The general trend in European equities remains pretty much unchanged to finish this shortened week as most major indices are just shy off recent highs but are struggling to push any higher. The recent outbreak of the third-wave of the Covid-19 pandemic has made investors worry about the effects that delaying the re-opening of countries will have on economic rec...

IBEX 35, FTSE MIB Forecasts: European Indices Struggle to Overcome Short-Term Resistance Key Talking Points: IBEX 35 and FTSE MIB struggling to gather bullish momentum Expect a pretty dull session in Europe this morning as most attention will be focused in this evening’s FOMC rate decision. Despite no expectations of a change in current monetary policy, investors will be paying close attention to Powell’s address towards the bond market and increasing inflation expectations. Traders will also be looking out for any mention of extensions to the SLR exemption, which allows big banks to excl...