German bunds struggle in silent session ahead of ECB’s monetary policy decision

The German bunds struggled during European session Wednesday amid a silent trading day that witnessed data of less economic significance. Investors will now be eyeing the European Central Bank’s (ECB) monetary policy decision, scheduled to be unveiled on April 26 by 11:45GMT.

The German 10-year bond yields, which move inversely to its price, jumped 1-1/2 basis points to 0.64 percent, the yield on 30-year note remained flat at 1.29 percent and the yield on short-term 2-year traded 1/2 basis point higher at -0.53 percent by 09:00GMT.

According to a recent report from Barclays Research, the European Central Bank (ECB) is expected to make no changes to its monetary policy meeting when it meets this Thursday.

"However, we think that it will need to recognize that the activity data releases have weakened, the geopolitical risks remain elevated, and the March inflation data did not deliver positive surprises. For these reasons, we think the statement will probably sound slightly more cautious and the balance of risk a bit less upbeat than in March," the report added.

Meanwhile, the German DAX slumped 1.51 percent to 12,360.76 by 09:15GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at -44.84 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

Lastly, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest