DAXEUR

The German DAX Index showed an increase of up to 3% following the ECB's decision to cut interest rates to 2.25% on April 18 and its statement that monetary policy is no longer "restrictive," along with Trump's softer remarks on trade wars and indications that he would keep Fed Chairman Powell in his position. ECB President Lagarde emphasized that they are in a state of "extraordinary uncertainty," stating that the worsening economic outlook is due to rising global trade tensions, and added, "European exporters are facing new trade barriers, and disruptions in international trade, financial market tensions, and geopolitical uncertainty are weighing on business investments." Mark Wall, Deutsche Bank's Chief European Economist, noted that the ECB is "open to further easing in monetary policy if the trade shock continues and reflects in the data, expecting another rate cut in June, and that the final interest rate could drop to 1.5% by the end of the year." The DAX Index continues to trend towards record levels thanks to SAP's strong financial results and the rise of automotive sector stocks. Technically showing a strong outlook above the pivot level, the DAX could head towards new records if it breaks the 22,191 resistance area.