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DAX steps back from record opening and new all time high

A short while ago the DAX did reopen above 17k for the first time ever and it did surpass the previous all time high, at 17,003. The high seen earlier, just after the opening was set at 17,017. However, the index has now fallen back from that earlier high following some higher than expected Spanish inflation data. There is a slew of European data due out this morning, from 9am GMT onwards that could have a further impact too. The main focus in that regard as far as the DAX is concerned could be the German flash Q4 GDP report at 9am GMT and then the Eurozone wide equivalent data at 10am GMT. The DAX has just now slipped back below 16,975 and it is currently trading at around 16,970
 

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