We some diverging move this Tuesday as US indices move clearly lower yet the German DE30 fires higher for the 5th trading day on stimulus hope. Investors expect action from both the ECB and German government, the latest suggesting that it could tap cheap borrowing to revive the economy but only in case of a recession. There’s also a big question whether expectations ahead the ECB aren’t too elevated as investors want to see both rate cuts and QE program. Technically DE30 faces a resistance at 12330 points where we see equation between the current rally and a similar impulse from June.
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