DAXEUR

Reports indicating that Germany's new Chancellor Friederich Merz has reached an agreement with the opposition on the financial package contributed to the rise of the Dax40 index. Significant increases, particularly in defense industry companies, were among the main sectors driving the index. Today's vote will exempt defense spending from debt limits and establish a €500 billion infrastructure investment fund. Throughout the day, the Euro Trade Balance may also be closely monitored.

From a technical perspective, short-term moving average indicators (13 and 50 periods) for the Dax40 are trading in a supportive zone. As long as the Dax40 remains above the current level of 23146, it maintains a positive outlook. If the upward momentum continues, levels of 23497 and 23720 may come into play. However, in the event of potential pressure, monitoring the support level of 23146 is crucial. During pullbacks, levels of 22935 and 22754 should be observed. The key level for the day is 23146.