German DAX index trades to a new all-time record high

<p>The German Dax is trading up 131.25 points or 0.80% at 16536. That takes the index to its highest level on record, extending above the July 31 high of 16528.97. The high priest today has just reached 16540.44.</p><p>The index is now up for the 6th consecutive day.since bottoming on October 23(31 trading days ago, the index is up 13.05%. For the trading year, the index is up 18.79%, its largest gain since 2019.</p><p>Expectations of an ECB that is done tightening is helping the sentiment. The German 10-year yield is down from 3.024% in October to 2.238% currently. The yield is down -10.6 basis points today.</p><p>Technically, the 10-year yield fell below its 200-day moving average for the 1st time since December 2021 last week. That moving comes in at 2.524%. The 32.8% retracement of the move up from August 2022 comes in at 2.128% and is the next key target to the downside. </p>

This article was written by Greg Michalowski at www.forexlive.com.