DAXEUR

The DAX index received a signal of some stability in Eurozone inflation with Germany's CPI data meeting expectations on Tuesday. Although today's GDP data from the UK showed that the British economy recovered in August by meeting expectations (0.1%), its direct impact on the DAX is limited. The main focus will be on the Philadelphia Fed Manufacturing Index coming from the US today. A value below expectations (8.6) could increase concerns about global economic slowdown, putting downward pressure on the DAX. The Eurozone CPI annual data to be released tomorrow (expectation: 2.2%) will confirm the trend of regional inflation, while critical labor market data from the US (Non-Farm Payrolls, etc.) will be more effective in determining global risk appetite and thus the direction of the DAX.