DAXEUR

The DAX Index has followed a positive trend in line with the improvement in global risk appetite and expectations of a loosening monetary policy. The index, moving above the 23776.27 pivot level, is testing the 24227.37 technical resistance. The most significant development in this week's macroeconomic calendar will be the Bank of England (BoE) interest rate decision to be announced on Thursday. A reduction from 4.25% to 4.00%, in line with market expectations, could support risk appetite across Europe and push the DAX index to the 24552.31-24878.46 range. In case of potential pullbacks, the 23126.43-22925.17 range will function as a strong support area. In the medium term, signals of recovery in the European economy and the outlook for corporate profitability will be decisive for the direction of the index.