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DAX backs off as ZEW index looms- bad news expected?

Earlier today the DAX did open higher, as entirely priced into the futures beforehand. The DAX reopened at 18,686, up from a close yesterday at 18,633. The high seen so far has been set at 18,716, but it is backing away from that high just now as the September German ZEW economic sentiment index looms, at 9am GMT. The markets are not expecting a positive change here. The consensus on that is for a lower current conditions reading, of -80, compared to a reading of -77.3 in August. The index itself is forecast to show a 17 reading, compared to 19.2 previously. Right now given all the latest news from Germany it would indeed be a surprise if this index beat forecasts. Perhaps the risk is more skewed to a downside miss? That potential might explain why the DAX is just now coming off the boil, currently trading at 18,690 

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