DE30 is moving sharply lower in the early European trade this Wednesday, more than erasing data-inspired gains from Tuesday. There’s no single catalyst but it seems like markets wake up to deteriorating COVID data. In the US there were 36k new cases yesterday – the highest number since 1 May. The Ifo index showed an improvement but current conditions improved only marginally. DE30 faces a potentially strong support around 12100 points.
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