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DAX edges higher in early trading

The European stock markets are trying to make some modest progress in the first hour of live trade. The DAX did not open higher this morning and it did initially try the downside, but that has been capped at 17,914 so far. It is now pushing a little higher. The same can be said of the FTSE 100 too, which has so far rejected any potential fall below the noted 7,700 level. The rebound in both is modest though at this stage, but it comes amid a rebound in the US equity futures. That said, the dollar is still on session highs and the EUR/USD is just now testing that noted 200 day moving average. That might not be conducive to further gains in the DAX, if it falls below that level, but we shall have to see on that. The DAX is currently trading at 17,955

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