The DAX index futures edged lower on Tuesday to 12,703.00 points by 07:30 GMT as traders awaited remarks from ECB President Mario Draghi and Fed Chairwoman Janet Yellen.

Today, Draghi is set to speak as of 08:00 GMT, Bank of England Mark Carney is due as of 10:00 GMT and Fed’s Yellen is scheduled at 17:00 GMT. A batch of FOMC representatives are also set to speak later in the session, with investors looking into hints on the timing of a next hike.

No relevant data is programmed for release in Germany. Yesterday, business expectations for June came in at 106.8, above an initially forecasted 106.4. Current assessment was at 124.1, with a 123.3 seen, and lfo business climate index also outperformed expectations at 115.1.

Despite upbeat data, the German index notched down by 0.38 percent or 48.35 points at the closing bell to end at 12,722.48 points. Technology, Food & Beverages and Retail stocks were pushing the index down, while Transportation, Industrials and Consumer sectors were higher.

Top three best performers of the session were Lufthansa AG, rising 3.06 percent to 19.200, Commerzbank AG with 2.16 percent to 9.477 and Deutsche Post AG up 2.12 percent to 33.185.

On the downside, RWE AG easing 1.13 percent at 18.855, Fresenius Medical Care KGAA falling 0.31 percent to 87.370 and Infineon Technologies AG NA down 0.31 percent to 19.600.

From a technical standpoint, we insist on the fact that the 12,550 12,950 range remains in place for this week. Depending on the comments from Yellen and other FOMC speakers, the DAX could experience some extra volatility but consolidation so far holds.

Technical indicators balance for the 30 min, 1 hour , 4 hour timeframes present strong sell signals. Fibonacci points at the time: S1 12756.91 / P 12767.61 /  R1 12778.31