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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.”
AMD – Advanced Micro Devices Inc.
Advanced Micro Devices Could Report In-Line Q4 Results Amid PC Headwinds, BofA Says
Advanced Micro Devices AMD is expected to report in-line Q4 results, whileFor AMD, BofA expects in-line Q4 and “modestly below” Q1 on weaker PC seasonality and ongoing challenges to the embedded and gaming segments.
“While we don’t anticipate management to give a specific FY AI guide like last year, consensus suggests a Q4’24 run-rate of [about $2 billion], with FY25 estimates ranging from [$7.3 billion to $11.1 billion],” BofA
US500 DAILY CHART –   Bid but key levels loom
S&P made a new record high (barely) but not confirmed by US500 (high still 6101).
Keeps a bid as long as it stays above 6039. Shorter time frame support is at 6050-75.
Anything other than a new record high and a new leg up would be considered a disappointment.
NAS100 DAILY CHART –  Record high still looms
Bid but major level remains at the record 22143 high. If you want to see the key indicator, keep an eye on cash NASDAQ INDEX 20,000
NAS100 keeps a bid as long as it trades above 21192 but anything other than a new record high and a new leg up would be considered a disappointment.
Nvidia – NVDA
Nvidia Stock Climbs 4% as $500 Billion AI Initiative Gains Momentum
Major tech firms SoftBank OpenAI Oracle MGX SoftBank and OpenAI have selected Nvidia as their main technology ally alongside Microsoft (MSFT, Financial).Nvidia saw its market value increase to $3.58 trillion through the announcement, which sent it past Apple’s $3.35 trillion worth.
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..
USDCAD 4 HOUR CHART –Trading back into its range
USDCAD range extended to 1.4461-1.4515, expect choppy trading until one aide Is decisively broken.’
I saw bank call for a risk to the record 1.61 high set 22 year ago. For that to happen it would probably take tariffs escalating into a trade war.
‘In this regard, watch what President Trump does, not what he says he might do..
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…
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