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DAX gets clipped below 16.700 on the opening

The DAX reopened for live trade a short while ago and the immediate move was a quite noticeable shunt to the downside, as the index slide below 16,700 on the opening, towards 16,675. It is bounce a little from there and it is clearly pretty thin out there and that is only set to get worse as the week unfolds. The German IFO is not expected to hold any surprises a little later, but that could be where the next move comes from. We shall have to see on that. The USD/JPY just had a much closer look at the 200 day moving average (142.57) a short while ago, but that seems to have stopped any dollar buying in its tracks again for the time being. That said there could be stops in place above 142.57 too. The DAX is just now trading at 16,705
 

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