DAXEUR

While the pivot level of 23963.89 is being monitored for the Germany DAX index, the index's performance today and tomorrow will largely depend on the economic data coming from the U.S. and the impact of these data on global risk appetite. Generally weaker-than-expected U.S. unemployment claims, PMI, and existing home sales data could increase global growth concerns, putting pressure on the DAX and pushing the index towards the support level of 23769.88 (S1). On the other hand, this situation could create expectations that the Fed may adopt a more dovish policy, providing temporary relief for riskier assets. Conversely, data confirming the strength of the U.S. economy could initially boost global growth optimism, pushing the DAX towards resistance levels of 24060.08 (R1) and 24254.09 (R2); how today's U.S. data is interpreted by global markets will be decisive in pricing after the data is released.