European equities opened higher on Tuesday, following the trend started overnight in Asia after investors welcomed reassuring macro data from China and Australia. The resurgence of the bullish trading stance ended yesterday’s technical correction and put markets back on track to achieve fresh highs before the end of the year. Optimism continues in Europe with investors expecting more positive performances and betting on a brighter economic future with the end of the Covid-19 crisis potentially in sight. However, as already explained, macro data are likely to keep investors busy in the meantime, especially today with speeches from both Christine Lagarde and Jay Powell as well as the EU inflation report, one of the ECB’s key indicators, due later in the morning.
The DAX-30 Index is boosted by automakers and miners and is now trading close to its 3-month high above the 13,400pts level. A clearing of the resistance at 13,450pts could drive the market further up, towards 13,555pts and even 13,820pts.
