On Wednesday the most important was US data. First PPI was much better than expected. Inflation in January clearly increased. Then there was FOMC minutes publication. Report was quite dovish, it said that further rates hiking can harm the economy. It wasn’t written straight but the message was clear: “Decreases on Wall Street will delay further hiking rates”.
Did markets understood well what FED wanted to say? This we will know on March FOMC meeting. Currently another rates hike would be a surprise.
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DAX moved in pair with big brother and continues gains after breaking key resistance at 9,300 pts, now it reached another one at 9,450 pts. After its breaking the next one is at 9,600 pts. Support is at 9,300 pts.
