German bunds slide after April ZEW economic sentiment rebounds; eyes on Eurozone March CPI data

The German bunds slid during European trading session Tuesday after the country’s ZEW economic sentiment data for the month of April rebounded; investors will now keep an eye over eurozone’s consumer price inflation (CPI) data for the month of March, due for release on April 17 by 09:00GMT.

The German 10-year bond yields, which move inversely to its price, remained tad lower at 0.051 percent, the yield on 30-year note hovered around 0.716 percent and the yield on short-term 2-year traded nearly 1 basis point lower at -0.587 percent by 09:40GMT.

The mood among German investors improved for the sixth month in a row in April, a ZEW survey showed on Tuesday, as the growth outlook for Europe’s largest economy brightened amid a resilient global economy and a delay to Britain’s departure from the EU, Reuters reported.

The ZEW research institute said its monthly survey showed economic sentiment among investors improved to 3.1 from -3.6 in March. Economists had expected a smaller increase to 0.8. A separate gauge measuring investors’ assessment of the economy’s current conditions fell to 5.5 from 11.0 in the previous month. Markets had predicted a dip to 8.0.

Meanwhile, the German DAX remained tad higher at 12,098.38 by 09:50GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bullish at 75.50 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex