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DAX bounce back from Daily Support levelS

DAX was up on Wednesday morning after testing the low level of 18871 in the last trading session as Producer prices in Germany shrank 1.1% year-on-year in October 2024, following a 1.4% fall in the previous month, matching market forecasts. This marks the 16th consecutive period of producer deflation, dragged by a sharp decline in energy prices (-5.6%), with costs falling for mineral oil products (-12.9%), light heating oil (-22.7%), fuels (-12.1%), natural gas (-10.1%), and electricity (-7.3%). Excluding energy, producer prices increased by 1.3%.