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European stock futures in the red as Yen gains-check out the DAX futures
It is not exactly a risk-off move yet, but the opening outlook for the US and European stock markets right now has taken a modest hit due to the gains in the Yen. It is hard to say what has driven the flight back into the Japanese currency, but it could be due to developments in the Middle East, which seem to be deteriorating once again, given the latest news of attacks carried out by Hezbollah. So, the outlook for the European opening this morning is a little lower, but at this stage not by any degree that cannot soon be reversed. The DAX closed on Friday at 18,322, with a gain of 139 points. It is just now set to reopen close to, or just below 18,300
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