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DAX extends gains to set new records above 18,350
Well, since the last update here, the DAX has now lifted more dynamically and risen above 18,350 a short while ago. That means we are setting fresh records this morning and at the same time pushing the overbought status of the index a little more. It is not at extreme levels yet, but it is getting closer all the time. The market is right now ignoring that though and the relative cheapness of German stocks compared to the US remains a key driver. The record gains in the DAX this morning is also further underpinning the outlook for the US opening later on. The lack of any rebound in the dollar is also a factor at play here, as the EUR/USD continues to edge a little higher. The DAX is just now trading around 18,345
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Nasdaq 100 slides below 18,500
Well, so much for the higher opening for the Nasdaq 100 earlier this afternoon. The push back above 18,900 looks some way off now, as the index... -
Now risk aversion takes hold of the USD/JPY as US yields fall back again
Well, you were warned about the price action likely to be seen in the USD/JPY this afternoon and it sure is volatile and since the last update noted... -
US stocks slide further into the red- S+P 500 falls below 5,450
As just mentioned in the previous update, the US stock markets have turned sharply lower since opening this afternoon. Hence we now have a fresh...
