Market Analysis Summary: DAX 40, AUD/USD, and Copper Prices

Published on: Thursday, 11 June 2026

In this analysis, market analyst Axel Rudolph discusses the current pressures facing the DAX 40 index, the AUD/USD currency pair, and copper prices amid ongoing geopolitical tensions and economic indicators.

Macro Update

Wall Street has seen a continuation of its decline, with the S&P 500 dropping 1.6% and the Nasdaq falling 2.0%. This downturn is attributed to elevated inflation rates, with US consumer inflation rising 4.2% year-on-year in May, the highest since April 2023. Semiconductor stocks have particularly struggled during this period.

In after-hours trading, Oracle's shares fell by 8.9% following the announcement of increased capital expenditure plans and a significant debt and equity issuance to support its AI infrastructure investments.

Asian markets also retreated, with the MSCI Asia-Pacific index (excluding Japan) declining by 1%. Concerns over high valuations in the technology sector have led to cautious investor sentiment, particularly affecting Taiwan's benchmark and Japan's Nikkei, both down 1.5%.

South Korea's KOSPI index experienced notable volatility, fluctuating between gains and losses, ultimately closing down 1.2% as AI-related stocks struggled to stabilize after a series of declines.

On the commodities front, oil prices have risen due to renewed geopolitical tensions, with Brent crude reaching $93.80 a barrel following US strikes on Iran and Tehran's threats to close the Straits of Hormuz, raising concerns about global energy supply disruptions.

The US dollar remains stable around the 100.0 index level, while the euro has slightly increased to $1.1547 ahead of the European Central Bank's policy meeting, where a rate hike is anticipated.

DAX 40 Analysis

The DAX 40 index has been under pressure recently, attempting to find support around the 200-day simple moving average (SMA) at 24,179. If the index continues to decline, it may revisit the late April to May lows between 23,797 and 23,716.

A bullish reversal would require a rise and daily close above the recent high of 24,517.

Short-term outlook: Bearish below 24,517. Medium-term outlook: Neutral between 23,716 and 25,438.

AUD/USD Analysis

The AUD/USD pair has reached a one-month low near the $0.6988 level, which may provide support. If this level fails, the pair could drop to the $0.6980 to $0.6945 range.

A bullish reversal towards the 55-day SMA at $0.7112 would require overcoming resistance at the $0.7080 low from May 19.

Short-term outlook: Bearish below $0.7080. Medium-term outlook: Neutral between $0.6834 and $0.7277.

Copper Price Analysis

Copper prices have retraced from recent highs, falling below the late May low of $6.1805, which now acts as minor resistance. A drop below Wednesday's low of $6.1251 could lead to a test of the May 19 low at $6.0806.

A recovery towards the $6.4146 to $6.4211 range would require a rise above the June 7 low of $6.1854.

Short-term outlook: Bearish below $6.4146. Medium-term outlook: Bullish above $6.0806.