DAXEUR

The German index will determine its direction entirely based on the data coming from the U.S. and the impact of this data on global risk appetite. If today's ADP and ISM data supports the "soft landing" scenario in the U.S. economy (a slowdown that is neither too hot nor too cold), it could positively affect the DAX by raising hopes that central banks will begin to cut interest rates. However, data that comes in much worse than expected could trigger fears of a global recession, leading to sales in the export-focused German index. The index, trading close to the 23,800 level, has resistance at 23,890 and support at 23,653.