The German bunds suffered during European session Thursday after investors have largely shrugged-off the lower-than-expected fall in the country’s trade balance data for the month of September, released today.
The German 10-year bond yields, which move inversely to its price, rose 1/2 basis point to 0.452 percent, the yield on 30-year note climbed 1 basis point to 1.084 percent and the yield on short-term 2-year traded tad higher at -0.616 percent by 10:00GMT.
In September, Germany exported goods worth EUR109.1 billion and imported goods worth EUR90.7 billion. As reported by the Federal Statistical Office (Destatis) on the basis of preliminary results, German exports were 1.2 percent lower in September 2018 and imports 5.3 percent higher than in September 2017.
In a calendar and seasonally adjusted fashion, exports decreased Month before August 2018 by 0.8 percent, imports fell by 0.4 percent. The foreign trade balance closed in September 2018 with a surplus of EUR18.4 billion. In September 2017, the balance in the foreign trade balance was EUR24.2 billion. Adjusted for the calendar and seasonally adjusted, the foreign trade surplus in September 2018 was EUR17.6 billion.
Taking into account balances for trade in goods including additions to external trade (+EUR19.7 billion), services (-EUR1.8 billion), primary income (+EUR6.8 billion) and secondary income (-EUR3.6 billion) closed - according to preliminary calculations of the German Bundesbank - the current account in September with a surplus of EUR21.1 billion. In September 2017, the German current account had a balance of EUR26.9 billion.
Meanwhile, the German DAX slipped 0.11 percent to 11,566.27 by 10:15GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at -9.06 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex


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