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DAX futures nearing 17k as a lower opening seen this morning

The failure of the Chinese stock markets to react positively to the quite significant official cut in mortgage rates has knocked the wider markets too. An earlier update here noted the falling back of the US equity futures so far today and the European futures markets are following a similar path. Yesterday the DAX managed to recover earlier session downside that saw it fall to levels around 17,050. However, the index then rebounded somewhat into the close, where it later ended the session just 25 points lower, at 17,092. However, right now this morning the DAX futures are pricing an opening below 17,050 and closer to 17,025. That outlook might change in the next 2 hours, but as things stand, the DAX is set for a negative start this morning 

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