Stocks Analysis by Investing.com (Damian Nowiszewski) covering: S&P 500, DAX, NASDAQ Composite. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Markets exhibit surprising optimism in response to the latest US inflation data.Likelihood of ECB rate cuts grows, with potential implementation as early as June.There's no remnant of April's widespread corrective movement on the major US and European indices in sight anymore., aligning with market expectations yet breaking a streak of five consecutive readings above forecasts.
A series of dovish remarks from European Central Bank officials, particularly Francois Villeroy de Galhau and Mario Centeno, hints at groundwork for a potential 25 basis points cut as early as June. A potential early correction presents a favorable opportunity to enter the trend at a more favorable price point. It's prudent to observe the convergence of the trend line and the local support level, which aligns near 5270 points. A breach of this area could signal a deeper retracement, possibly targeting at least 5150 points., with recent peaks undergoing minimal corrections.
The support level at 18600 points is critical in this context, as its breach could mark the initiation of a potential extension of the corrective movement.
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