DAX futures slightly in the red as latest German factory orders loom

Yesterday the DAX did manage to rebound from an opening low at 18,531 and that rebound saw it recover to 18,654 just after the 4pm London FX fix. However, it was unable to hold that and later fell back into the close, where it ended the session at 18,591, with a loss of 155 points on the day. The economic news emanating from Germany continues to add concerns for the outlook and the latest situation with VW is indeed a worry. If ever you wanted to find a major barometer for the health of the German economy, then VW would surely be just that. The DAX futures are slightly in the red this morning ahead of the latest German factory orders (July) due for release in a couple of minutes, at 6am GMT. Those are expected to show a fall of around 1.7% in July, compared to the 3.9% rise posted in June. The DAX is just now priced to reopen at around 18,560 and the futures might react to this data when it hits the screens very shortly