A break and closing above the 15600 all time high price might mean the DAX will be eyeing the Fibonacci 1.618 resistance at price 15960 and the 2.618 Fibonacci Resistance at price 16664. Important support levels for a trend reversal at 15374 0.786 Fibonacci retracement level which coincides with the position of the Valid uptrend line. Other support levels at 14807 May 13th bottom and at 14430 inside support level from a March 18th top.
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• A busy day is expected on the EU area economic calendar with news coming from EU’s largest economy, Germany. News include German Gfk ConsumernClimate, Bundesbank president chatter and also a UK MPC member speech.
• Asia Pacific stocks were mostly up on Thursday morning as investors await clarity on inflation trends and tapering prospects.
Japan’s Nikkei 225 fell 0.57% this morning, as investors await data, including the Jobs/applications ratio for April and the Tokyo Core Consumer Price Index for May, to be released on Friday.
• European stocks closed mixed on Wednesday as investors continued to monitor the inflation outlook after central bank policymakers reiterated their dovish monetary policy stance.
The pan-European Stoxx 600 provisionally ended little changed for the session, with travel and leisure stocks adding more than 1% while banks dropped 1.1%.
• The European Central Bank should not reduce the pace of asset purchases from next month, ECB board member Fabio Panetta said on Wednesday, joining a growing chorus of policymakers calling for continued stimulus.
With the recovery now well underway, pressure is growing on the ECB to start curbing its emergency measures. But several key policymakers have pushed back in recent days, suggesting that any reduction in asset buys after the June 10 policy meeting is highly unlikely.
• The European Union is closing in on a deal in negotiations to reform agriculture subsidies in the 27 nation bloc, Germany said on Wednesday. "Today we are reaching the finishing line, and we hope it will work out," German agriculture minister Julia Kloeckner told reporters on her arrival to a meeting of EU agriculture ministers in Brussels.
The ministers' meeting takes place alongside parallel talks between EU member states, European lawmakers and the executive European Commission, who are attempting to finish a deal this week on the farming policy.
• At 06:00 (GMT) EU Gfk German Consumer Climate report is due. The Gfk German Consumer Climate Index measures the level of consumer confidence in economic activity. The data is compiled from a survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions.
• At 11:00 (GMT) UK MPC Member Gertjan Vlieghe is due to deliver a speech titled "What government bond yields can tell us about future growth and inflation" at an online event hosted by the University of Bath.
• At 12:00 (GMT) EU German Buba President Volker Weidermann is due to speak at an online event celebrating the 70th anniversary of the German Economic Institute.
European indices yesterday:
• DAX: -0.09%
• EURO: -0.11%
• MIB: -0.46%
• CAC: +0.02%
Sources: Investing.com, forexfactory.com.