Snapshot: The DAX is under pressure, trading near 23,750 (-0.5%) following lower-than-expected German and Eurozone HICP prints indicating easing inflationary pressures, compounded by rising geopolitical tensions stemming from US-Iran war threats. Focus shifts to US data later today.
- Watch 23,600 support; break opens a move to 23,400.
- Escalating geopolitical tensions remain a significant risk, potentially triggering further risk-off sentiment during the NY session.
Bias into NY: We lean bearish on the DAX below 23,800 as the combination of geopolitical risks and the tepid reaction to lower HICP suggests limited upside; a break below 23,600 would confirm the bearish setup.