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The German government bonds traded flat Thursday after the country’s unemployment rate remained unchanged in August, with the total number of jobless citizens declining, albeit lower than what markets had anticipated. Also, eurozone’s consumer price-led inflation index for the month of August added hopes in an otherwise-ailing economy.
The German 10-year bond yields, which moves inversely to its price, rose nearly 1 basis point to 0.37 percent, the yield on 30-year note hovered around 1.12 percent and the yield on short-term 2-year traded flat at -0.75 percent by 09:20GMT.
Germany's unemployment decreased in August, reports said citing data from the Federal Labor Agency on Thursday. The number of unemployed decreased by 5,000 in August from July. Economists had forecast a decrease 6,000 for August. The jobless rate held steady at 5.7 percent in August, the lowest since the reunification in 1990.
"The labor market is continuing its positive trend. The strong growth in employment is continuing and companies’ demand for new staff is still high," Reuters reported, citing Detlef Scheele, Head, German Labour Office.
Meanwhile, the German DAX surged 0.60 percent to 12,073.00 by 09:20 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 47.86 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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