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DAX finally smells the coffee?
The DAX is now reacting a bit more to all the data that has greeted it this morning. Earlier the DAX rose close to 19,275, but finally it is edging back down again. Earlier updates here were rather mystified as to why it did not react more immediately to the poor German PMI data, but also stated that perhaps the price action was not necessarily just about that. The CAC is lower now though and so they both should be quite honestly. The DAX is just now falling to test the 19,200 level and quite honestly there does not seem much of a good fundamental reason to buy this, or the CAC for that matter too.
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