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DAX lifts off opening lows to set new records ahead of German IFO release

The DAX did open slightly lower this morning, but it is just now lifting off the opening lows now and setting new record highs above the 18,179 record set yesterday. The uplift comes as the FTSE 100 manages to rise above 7,900 this morning and the EUR/USD remains under pressure. At 9am GMT we will get some quite important German data. That is the IFO business climate index and it is forecast to be broadly unchanged in March. The current conditions on this index last stood at 86.9. Now sometimes the markets do not react much to this data, but that is never to discount its importance and the potential for the data to throw up a surprise, or two. 

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