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German Factory orders miss forecasts- check out the DAX futures this morning

The February German Factory orders data has just been released. Orders were expected to rebound by 0.7%, after falling by 5.9% in January. Well, that is not quite what we got. Orders only rose by 0.2% and that news has not done the Euro or the DAX any favours. Now, yesterday the DAX had closed long before the slide in the US markets. That close had seen the German benchmark index post a modestly higher close. The DAX gained 35 points, closing at 18,403. However, the slide in US stocks sent the DAX futures tumbling yesterday evening and that is going to deliver a sharply lower opening this morning. At one point, the DAX was priced to reopen close to 18,100. It is right now closer to 18,200, but this data release is not going to add much value to that. That outlook is unlikely to change over the next hour

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