Snapshot: The DAX is struggling near 24,400 following the collapse of Europe’s largest office deal since 2022, weighing on sentiment. Focus turns to Commerzbank’s annual general meeting and its potential takeover by UniCredit. No major German macro releases are due before the US open.
- Watch for further downside if the DAX breaks below 24,300 support.
- Risk: Elevated US real yields could further dampen risk appetite in the NY session.
Bias into NY: Slightly bearish as the failed Frankfurt property deal and rising US real yields at 2.13% exert pressure. Expect the DAX to test lower, potentially towards 24,200, barring a major positive catalyst from US data.