German bunds trade narrowly mixed after ECB President Draghi comments against change in current policy stance

The German bunds trade narrowly mixed Thursday after European Central Bank (ECB) President Mario Draghi commented that he does not see any reason to bring about any change in the zone’s current monetary policy stance. Also, he said that the common currency is not strong enough at the moment to volunteer for a change in the policy outlook as well.  

The yield on the benchmark 10-year bond, which moves inversely to its price, fell 1/2 basis point to 0.25 percent, the long-term 30-year bond yields hovered around 1.03 percent and the yield on short-term 3-year bond traded 1/2 basis point higher at -0.72 percent by 08:30 GMT.

"I do not see cause to deviate from the indications we have been consistently providing in the introductory statement to our press conferences. It is clear that continued support for demand remains key," Bloomberg reported, citing ECB President Marion Draghi in a speech in Frankfurt on Thursday.

Further, at 52.5, up from 51.2 in February, the seasonally adjusted headline Germany Retail PMI signalled a fourth successive month-on-month expansion in sales in March. The latest figure was the strongest in six months and also above the long-run series average of 50.6.

Meanwhile, the German stock index DAX Index traded 0.38 percent lower at 12,169.50 by 08:40 GMT, while at 08:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bearish at -91.73 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex