Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

German bunds mixed despite better-than-expected October trade balance; December ZEW economic sentiment index eyed

The German bunds remained mixed during European session Monday after witnessing a better-than-expected trade balance for the month of October, released today. Investors will now remain attentive to watch the country’s ZEW economic sentiment index for the month of December, scheduled to be released on December 11 by 10:00GMT for further direction in the debt market.

The German 10-year bond yields, which move inversely to its price, jumped 2 basis points to 0.247 percent, the yield on 30-year note also climbed 2 basis points to 0.892 percent and the yield on short-term 2-year traded 1-1/2 basis points higher at -0.611 percent by 10:20GMT.

In October, goods worth EUR117.2 billion were exported from Germany and goods worth EUR98.9 billion were imported. As reported by the Federal Statistical Office (Destatis) on the basis of preliminary results, German exports in October 2018 were 8.5 percent and imports 11.3 percent higher than in October 2017. Calendar and seasonally adjusted exports were down on the previous month September 2018 by 0.7 percent, imports increased by 1.3 percent.

The foreign trade balance closed in October 2018 with a surplus of EUR18.3 billion. In October 2017, the balance in the foreign trade balance was EUR19.1 billion. Adjusted for the calendar and seasonally adjusted, the external trade surplus in October this year was EUR17.3 billion.

Meanwhile, the German DAX slipped 0.45 percent to 10,735.90 by 10:25GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 57.41 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.