German bunds lose ground after Eurozone consumer price inflation meets expectations

The German bunds plummeted Wednesday after eurozone’s consumer price inflation index (CPI) for the month of December met market expectations. Now, investors are eyeing the European Central Bank (ECB) member Coeure’s speech, scheduled to be held on January 18 by 14:30GMT for further direction in the debt market

The German 10-year bond yields, which move inversely to its price, fell 1/2 basis point to 0.55 percent, the yield on 30-year note slid 1 basis point to 1.28 percent and the yield on short-term 2-year hovered around -0.57 percent by 10:15GMT.

Euro area annual inflation was 1.4 percent in December 2017, down from 1.5 percent in November. In December 2016, the rate was 1.1 percent. European Union annual inflation was 1.7 percent in December 2017, down from 1.8 percent in November. A year earlier the rate was 1.2 percent. These figures come from Eurostat, the statistical office of the European Union.

Meanwhile, the German DAX fell 0.26 percent to 13,213.00 by 10:20 GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 64.07 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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