DAXEUR

The German index has started the week cautiously, influenced by the hawkish stance of the Fed Chairman yesterday, which has suppressed global risk appetite, and the strong Eurozone inflation data from yesterday that has diminished hopes for easing from the European Central Bank. Today, the direction of the DAX will be shaped by the ADP and ISM services sector data from the U.S., which will provide important signals regarding the trajectory of the global economy. A harsher-than-expected slowdown signal in the U.S. economy could ignite fears of a global recession and put pressure on the export-oriented index.