The German bunds gained on the last trading day of the week Friday after eurozone’s trade balance disappointed market expectations, although the better-than-expected producer price index for the month of April cushioned further gains to the debt basket.
The German 10-year bond yields, which move inversely to its price, fell 1/2 basis point to 0.63 percent, the yield on 30-year note hovered around 1.33 percent and the yield on short-term 2-year traded flat at -0.55 percent by 09:30GMT.
The first estimate for euro area (EA19) exports of goods to the rest of the world in March 2018 was €199.9 billion, a decrease of 2.9 percent compared with March 2017 where they peaked at €205.9 billion. Imports from the rest of the world stood at €173.0 billion, a fall of 2.5 percent compared with March 2017 (€177.4 billion). As a result, the euro area recorded a €26.9 billion surplus in trade in goods with the rest of the world in March 2018, compared with +€28.5 billion in March 2017. Intra-euro area trade fell to €170.5 billion in March 2018, down by 0.6 percent compared with March 2017.
In January to March 2018, euro area exports of goods to the rest of the world rose to €555.7 billion (an increase of 2.5 percent compared with January-March 2017), while imports rose to €506.3 billion (an increase of 1.4 percent compared with January-March 2017). As a result, the euro area recorded a surplus of €49.4 billion, compared with €42.9 billion in January-March 2017. Intra-euro area trade rose to €485.6 billion in January-March 2018, up by 4.1 percent compared with January-March 2017.
Meanwhile, the German DAX traded 0.15 percent lower at 13,094.53 by 09:35GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bearish at -90.46 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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