DAX edges back from above 19k as IFO index looms

The DAX opened higher this morning. The index commenced the new session at 18,982 and did have a brief look above the 19k handle. The high seen a little earlier was sat 19,005, but it has backed away from that earlier high just now. The September German IFO business climate index is looming closer now, at 8am GMT and the proximity of that might have caused the slight relapse. The markets are expecting only a slight fall in the current conditions, to around 86.1 from 86.5 in August. However, given the most recent German data elsewhere, there is clearly room for disappointment and we shall shortly see if that is the case, or not. The DAX is currently trading at 18,950