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French PMI data disappoints as German equivalent looms- keep an eye on the DAX

The latest, preliminary PMI data from France has just been released and it has missed on expectations. All three core readings have come in below consensus. The equivalent German data will be released at 8.30am GMT. The reaction across the markets to the lower than expected readings caused the EUR/USD to fall back instantly below the 1.09 handle again, but not by very much and it has rebounded almost as fast. The CAC 40 has come off the boil too, but once again thew move is modest so far. However, if the German data replicates what we have just seen emerge from France it might endorse a deeper reaction in stocks and the Euro. The DAX has has not made much in the way of any progress so far since the opening and it seems to the waiting for this German PMI data to arrive, before making its mind up on which way hop 
 

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