On Monday, the DAX closed in negative territory, but on Tuesday, it managed to reverse this trend, closing at 24,091.62 points. Investors swept away Monday's tariff fears, guided instead by positive inflation data. The only question now is how the ECB will position itself in this regard, as ECB President Lagarde had intended to counter the tariff plans with a strong euro. However, the constellation of potential interest rate cuts and falling inflation suggests that the euro could weaken more than expected, especially if the US dollar strengthens again. This could happen if Donald Trump brings order back to the tariff chaos.
An intra-European tension is indeed building up here, which could certainly cause unrest in the stock markets, especially if investors become nervous and start taking their profits off the table. Clarity on this will come next Thursday when the ECB meets to decide on interest rates and justify its decision.
Siemens Energy and SAP at the Top of the DAX
Yesterday, on Tuesday, Airbus shares came into the spotlight with a 2.3 percent gain, followed by Siemens Energy with a 2.0 percent increase, and DAX heavyweight SAP with a 2 percent price gain. Siemens Energy has been outperforming for investors for months, and there seems to be no limit to its current positive development. The price target of 100 euros per share should not be long in coming. The SAP share, on the other hand, still has some catching-up potential compared to the DAX. The overall index is currently performing better than its index heavyweight.
Can the All-Time High Be Attacked?
How might things proceed today, Wednesday? The situation is still shaky, as the current price range is still within the price range of May 29, 2025. The high of May 29, 2025, which is also the all-time high, must be targeted to inject short-term momentum into the DAX. Should this target be taken out, a strong movement could emerge, as many short sellers' exits would likely have to be processed at this point.
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