Snapshot: The DAX is under pressure after disappointing flash PMI data from both France and Germany this morning, particularly the services sectors. German Manufacturing PMI printed at 51.0, a slight miss of expectations. Adding to the pressure, BofA sees increasing crash risk for European equities.
- Watch for any further downside revisions to Eurozone growth forecasts impacting the German index.
- The US session will likely react to US data and sentiment.
Bias into NY: The DAX is likely to remain under pressure, potentially testing lower supports, if US yields continue their upward trend amplified by risk-off sentiment following the weak PMI numbers. A break below 24,500 could open further downside.