Macro Morning: German joy

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By Chris Becker

A relatively calm night on macro markets with small gains in most stock markets, USD strengthening against all but the Euro currencies with only two data releases of note. First, the German IFO survey surprised a little on the upside which helped the DAX move along, up 0.5% with further gains in futures:

Chart DAX30, D1, 2014.11.24 21:39 UTC, VantageFX Pty Ltd., MetaTrader 4, Real

The daily trend for DAX is now a little over-extended, having now reached its former high in September but is following the S&P500 in lockstep, up 0.3% to another record high. The second data print – services PMI for the US – came in strong, but a bit lower than expected:

Chart SP500, D1, 2014.11.24 21:40 UTC, VantageFX Pty Ltd., MetaTrader 4, Real
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