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DAX futures unfazed by weaker German data

The latest German factory orders data has just now been released and it was below consensus forecasts. Factory orders rose by 0.4% in November, which was shy of the 1.1% gain forecast. The annualised rate of contraction has fallen to -4.4%, which was also lower than previously reported, at -3.4%. The reaction across the markets to this data, is as more usually seen, in as much as there was very little to be seen in either the Euro or the DAX. The DAX closed above its worst levels of the session on Friday (16,448), but still ended the final session of the week with a loss on the day, albeit of just 23 points. The index closed at 16,594. The DAX futures are pricing a slightly lower opening a little later this morning, currently at around 16,575 

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