German bunds remain mixed after better-than-expected June unemployment change; Eurozone CPI meets expectations

The German bunds slumped during European session Friday after the country’s unemployment change for the month of June came in better than market expectations and eurozone’s consumer price-led inflation index for the same period also met consensus estimates.

The German 10-year bond yields, which move inversely to its price, rose 1 basis point to 0.32 percent, the yield on 30-year note slid 1-1/2 basis points to 1.03 percent and the yield on short-term 2-year traded 1-1/2 basis points up at -0.67 percent by 09:50GMT.

Germany’s number of unemployed people fell to 15K, better than market expectations of -8K, from -11K in May, while the jobless rate remained steady at 5.2 percent, meeting consensus estimates as well.

Euro area annual inflation came in at 2.0 percent in June 2018, up from 1.9 percent in May 2018, according to a flash estimate released Friday by Eurostat, the statistical office of the European Union.

Meanwhile, the German DAX traded 1.08 percent higher at 12,310.19 by 09:55GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained highly bullish at 106.77 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex