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DAX futures – FDAX1!
DAX Sets Fresh Record, Outperform European Peers
The DAX closed about 1% higher at a new record high of 21,259 on Wednesday, outpacing its European peers.The index was bolstered by Adidas’ strong earnings and optimism over massive AI investments proposed by US President Donald Trump, which helped offset concerns about his tariff policies.
Light Crude Oil Futures – CL1!
Crude Prices Slip on Dollar Strength and Tariff Concerns
March WTI crude oil (CLH25) Wednesday closed down -0.39 (-0.51%), and March RBOB gasoline (RBH25) closed down -0.0286 (-1.35%).Crude prices came under pressure Wednesday after President Trump warned that he is considering a 10% tariff on all Chinese goods in retaliation for the flow of fentanyl from the country.
Wednesday’s monthly report from the Bundesbank signals weak energy demand in Europe’s largest economy and is bearish for crude prices after the report said, “In the first quarter of 2025, the German economy is unlikely to emerge from its long period of stagnation.”
USDJPY 4 HOUR CHART –   Waiting!
The wait is on for the BoJ’s expected rate hike and price action suggests it is already baked in the cake.
If you take 155-158 as a range then 156.50 will set the tone ahead of the BoJ.
Note the JPY was the underperformer Wednesday, both vs the dollar and on its crosses, most notably EURJPY..
EURUSD Daily
In line with what I said yesterday, so no need to repeat myself.
Now only remaining question is if EUR manages to close above that trendline tonight…
This is now the first signal that things are changing in EUR favour – It is a very early sign – 1.01800 held its ground, and more pull-push actions will be seen, with 1.02050 acting as a Major support.
This is a first time in awhile that I can see 1.06500 coming in play once again, but it will take some time so don’t expect any instant solutions.
We will continue following the developments on the Daily and Intraday basis as well – so stay tuned for more insights…
EURJPY 4 HOUR CHART – TESTS RESISTANCE
Credit again to The Amazing Trader for highlighting this key resistance, which was the start of the move down to the 159.65 low.
Even if you do not trade EURJPY, it pays to keep an eye on it when you sewe the JPY move in the opposite direction of the EUR vs the dollar. ‘
The high in EURJPY coincided with the top in EURUSD at 1,0457.
EURUSD DAILY CHART – What happened to parity?
Wasn’t the talk of parity just a few weeks ago and now 1.05 looms above.
You can see why 1.0457 is a key level, also a 4=week high. Â While 1,05 would likely prove tough, a move above 1.0457 would put it on the radar.
‘On the downside, 1.0435 needs to hold to keep a strong bod. Back below 1.04 would negate the upside risk.
