Snapshot: The DAX is under pressure, tracking broader European weakness, currently trading around 24,250, down approximately 0.8%. Declining German and Eurozone HICP figures have failed to inspire confidence, overshadowed by rising oil prices and geopolitical anxieties.
- Watch for a break below 24,200, which could open the door for further declines.
- Rising US-Iran tensions pose a significant risk to the downside, potentially exacerbating inflationary pressures.
Bias into NY: We expect continued downward pressure on the DAX, targeting a move towards 24,000, fueled by persistent inflation concerns and a risk-off sentiment following the CNBC World report on renewed inflation fears.