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The German bunds traded higher Wednesday after reading the Eurozone’s March steady consumer price inflation (CPI) data. Also, investors are eyeing the country’s manufacturing PMI for the month of April, scheduled to be released on April 21 for further direction in the debt market.
The yield on the benchmark 10-year bond, which moves inversely to its price, rose nearly 1 basis point to 0.18 percent, the long-term 30-year bond yields also climbed nearly 1 basis point to 0.90 percent and the yield on short-term 2-year bond also jumped nearly 3 basis points to -0.82 percent by 09:10 GMT.
Consumer prices in the Eurozone rose by an annual rate of 1.5 percent in March, down from two percent in February, according to the European Commission. Core inflation, which strips out the effects of volatile components in the price index, fell to 0.7 percent for the same period. However, European Central Bank (ECB) officials still expect the zone’s inflation to average 1.7 percent this year.
Meanwhile, the German stock index DAX Index traded 0.23 percent higher at 12,029.25 by 09:30 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 6.55 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
