DAXEUR

The positive risk appetite brought by the ceasefire agreement is supporting the DAX index along with global markets, helping the index to stay above the pivot level of 23552.10. However, investors are cautious; because the expected negative growth (-0.2%) in tomorrow's US GDP data and the PCE inflation data on Friday will be decisive for global growth and interest rates. If Fed Chairman Powell delivers dovish messages about the economy in his speech tonight, it could push the DAX up to the resistance level of 23845.83, while concerns about a potential recession or hawkish statements could pull the index down to the support level of 23351.42.