PPI figures fell in the US as reported yesterday so lower inflation helped stocks to found buyers while USD is coming down. However, US yields are not that volatile yet, mostly just sideways. But as long as stocks are up, USD can be headed even lower, especially vs the EUR where higher rates can still be needed to bring down inflation. Looking at the EURUSD pair, we see it trading at new 2023 highs. possibly still in C wave but with room for more upside to complete a five wave rise from 1.090, possibly near 1.11-1.1150 area. Any drop back below 1.0973 can be an indication for a temporary top.
DAX is bullish, but approaching to fifth wave resistance
