German PMI data disappoints too- DAX yet to fall though

Following the release of the truly dire French PMI data a short while ago the same data reports have just this minute been released from Germany. We saw how the Euro reacted across the board to the French data and it was noted; that perhaps the German reports might ride to the rescue. Well, they have also fallen and both manufacturing and services have missed on estimates. Manufacturing was forecast to be at 42.3, it has slumped to 40.3. That has pushed the composite reading further into contractionary territory too. The EUR/USD has fallen further not he news and seems to be closing in on a test of the 1.11 handle soon. The DAX is not actually lower yet, but quite why that is the case is pretty hard to explain just now. The DAX is currently trading at 18,735