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The German bunds gained during European session Monday after the country’s Ifo business climate index disappointed market participants, coming in lower than market expectations. Investors will now be eyeing the retail sales for the month of May, scheduled to be released on June 28 by 06:00GMT for added direction in the debt market.
The German 10-year bond yields, which move inversely to its price, remained tad lower at 0.33 percent, the yield on 30-year note slid 1 basis point to 1.11 percent and the yield on short-term 3-year hovered around -0.58 percent by 09:45GMT.
Germany’s Ifo business-climate index fell to 101.8 from 102.3 in May. It marks the lowest reading since May last year, when the index also stood at 101.8, as compared to market expectations of 101.9.
The Ifo Institute last week scaled back its outlook for Europe's largest economy, forecasting growth of 1.8 percent in 2018 and again in 2019. Previously, it had predicted growth of 2.6 percent in 2018 and 2.1 percent in 2019.
Meanwhile, the German DAX traded 1.27 percent lower at 12,561.09 by 09:50GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bullish at 88.85 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
