German bunds mixed after September CPI remains unchanged, Eurozone industrial production beats estimates

The German bunds remained mixed on the last trading day of the week Friday after the country’s consumer price inflation (CPI) for the month of September remained unchanged and eurozone’s industrial production for August beat market expectations.

The German 10-year bond yields, which move inversely to its price, rose 1 basis point to 0.529 percent, the yield on 30-year note also climbed 1 basis point to 1.148 percent while the yield on short-term 2-year traded nearly 1 basis point lower at -0.573 percent by 09:30GMT.

Germany's consumer price inflation rose to its highest level in nearly seven years in September, final data revealed by Destatis showed Friday. Consumer prices advanced 2.3 percent on year, the fastest since November 2011, when inflation was 2.4 percent. Prices had advanced only 2 percent in August. On a m/m basis, inflation rose to 0.4 percent from 0.1 percent in August. Both annual and monthly rates matched initial estimate published on September 27.

Further, Eurozone’s industrial production rose in August for the first time in three months despite stagnation in Germany, with the figures rising 1 percent in August from the previous month, after falls of 0.7 percent in each of the prior months. Economists polled by Reuters had forecast a smaller recovery of 0.4 percent, Financial Times reported.

Meanwhile, the German DAX rose 0.41 percent to 11,586.74 by 09:40GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bullish at 76.72 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex