DAX futures sharply higher this morning

As the US CPI data hit the screens yesterday afternoon, that was the news which helped to force the DAX abruptly lower. Earlier the index had reached a new all time high, at 22,100. The CPI data sent it down to 21,971, but it did not stay down there for very long. It was already on the rebound, when the Trump comments on Ukraine sent it to a new all time high, at 22,193. The index did later pare those gains when it closed 110 points higher, at 22,148, but that was nevertheless another record close for the index. Well, since then the further recovery stateside and some much better than forecast German earnings this morning has sent the DAX futures screaming higher today. The index is currently priced to reopen above 22,450 and clearly set to break the record books again shortly this morning. In the process of that is it likely to leave an opening gap back to 22,193 which may, or may not be filled. We shall have to see on that