Snapshot: The DAX is currently trading around 24,100, down roughly 1% on the session, pressured by a lack of fresh domestic catalysts and lingering worries over Middle East tensions. Focus remains on the ECB’s communication around future rate paths. Today’s catalyst will be how US markets digest the existing uncertainty.
- Watch 24,000 as initial support; a break there opens the door to further downside.
- Geopolitical risk remains elevated, with any escalation in the Middle East likely to trigger further risk-off sentiment in the NY session.
Bias into NY: Bearish. The lack of domestic upside drivers coupled with the prevailing risk-off mood suggests further pressure on the DAX, potentially testing the 23,800 level.