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No rebound yet for the DAX

Earlier this morning the DAX did reopen lower, but that was no surprise, given the price action in the DAX futures ahead of the opening. The index has yet to react positively to the upward revisions on the Eurozone PMI data, covered in the previous update, when noting the price action in the EUR/USD. The FTSE 100 is still under pressure too and so far rejected any move back above its 50 day moving average. The inert reaction in the DAX is perhaps understandable, when one looks at where the index is placed right now- close to record levels. The DAX is just now edging off the lows, currently trading at 17,656

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