DAX in the spotlight- German IFO expected to improve slightly today but watch out if it does not

The pressure on the global stock markets right now surely needs some positive data to help remediate the falls. So, this morning we get some quite important data out of Germany. That is at 8am GMT and it is the latest IFO business climate index. That is expected to deliver a very modest improvement from the prior reading of 88.6. The markets are looking for something north of 89. Now, quite often the DAX and the Euro do not react much to this data, but given the immediate circumstances that might not be the case today. So, right now what the DAX does not need is a disappointing IFO report. However, the latest manufacturing PMI data out of Germany does not support a better reading this morning on this index. Yesterday the DAX fell back into the close and ended the day with a loss of 170 points, at 18,387. The DAX future is just now pricing the opening this morning below 18,300 and close to 18,275