FX.co ★ DAX on Cautious Note

The DAX 40 traded just above the flatline around 24,900 on Tuesday, holding near its highest levels since early June amid cautious optimism over a pending US-Iran peace agreement and ahead of key central bank decisions, including from the Federal Reserve. The memorandum of understanding is expected to be formally signed on Friday, potentially allowing the Strait of Hormuz to reopen as early as this week, although the full details of the deal will only be disclosed afterward. On the corporate front, GEA Group led the gains after Deutsche Bank upgraded the stock from Neutral to Buy, while trimming its target price from €70 to €64. Among other movers, defense and industrial heavyweight Rheinmetall climbed 2%, and Qiagen NV, MTU Aero Engines, Siemens, and Airbus each rose by about 1%.