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DAX rebound after improved ZEW proves short-lived

The DAX did immediately react positively to the improved reading in the German ZEW index earlier this morning, but that reaction has proved to be short-lived so far. The DAX lifted from an earlier session at 17,749, close to 17,800, but it could not vault that level and has dropped back towards 17,750 again. There is no doubting the improvement in the data, but right now it is probably not that which concerns the DAX the most, or other stock markets for that matter. That is all about risk and geopolitics and that is eclipsing any passing data improvements. A similar up/down reaction was seen in the EUR/USD too. The DAX is just now trading at 17,765

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