DAXEUR

The German stock market may be affected today by the Fed's hawkish stance with the US opening. The pivot level is trading around 23721.01. If it stays below this level, the supports at 23619.74 and 23405.15 will gain importance. If the support at 23405.15 is broken, a decline to 23303.25 may occur. While the ECB is expected to cut rates in September, the Fed's wait-and-see policy has raised concerns about global growth. Economic data coming from Germany in the coming days and the inflation trend in Europe may determine the direction of the stock market.