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DAX languishing below 15,150 as US futures pare earlier gains

The US stock markets will reopen at 2.30pm GMT this afternoon after the US changed their clocks over the weekend. So, with an hour to go before live US trading resumes, the US equity futures are off their best levels seen earlier this morning. At the same time, the DAX has been under a modicum of selling pressure for most of the morning. The DAX did reopen above 15,200 today, commencing live trading at 15,219. The immediate high was set at 15,223 and since then it has been one-way traffic in the opposite direction. That has helped the dollar to steady and also selectively rebound, but it is hard to say which is diving the other. On balance, I would say that the rebound in yields has helped the dollar and that has dented the DAX. The index has fallen back to as low as 15,141 a moment ago and it looks like requiring a positive start to the US session in order to snap the current malaise

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