DAXEUR

The DAX index had a calm opening with low trading volume globally on Monday due to the closure of markets in the US and the UK. Throughout the week, the index's direction will be determined by global risk appetite, US economic data, and signals from the Fed regarding its monetary policy. The FOMC minutes on Wednesday and the US Core PCE data on Friday are critical in this regard. The pivot point for the index is at 23934.07. Positive US data and dovish Fed messages could increase risk appetite, driving the DAX towards resistance levels of 24190.16 (R1) and 24300.99 (R2). Conversely, hawkish messages or weak data could pull the index down to support levels of 23823.24 (S1) and 23567.15 (S2). The CPI data from Germany on Friday (Monthly Expectation: 0.1%) will also have an impact on the index.