The Dax's phenomenal rally from pandemic lows has seen the index almost double in just over 12 months on the back of ECB quantitative easing. However, there are growing calls amongst the more hawkish members of the ECB's governing council for bond purchases to be scaled back as inflation and economic growth is expected to increase in the coming months. However, even though we don't expect any major announcements at this afternoon's press conference this coupled with choppy markets could instigate a sharp reversal towards support at 14,000.