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The German bunds remained tad higher during European session on the first trading day of the week Monday after the country’s industrial production data for the month of January and trade balance data for the similar month, released earlier today, disappointed market investors, thus weighing on bond yields.
The German 10-year bond yields, which move inversely to its price, slipped 1-1/2 basis points to 0.060 percent, the yield on 30-year note edged nearly 1 basis point lower at 0.708 percent and the yield on short-term 2-year too traded tad lower at -0.539 percent by 09:55GMT.
According to preliminary data from the Federal Statistical Office (Destatis) in January, output in the manufacturing industry was 0.8 percent lower than in the previous month in terms of price, season and calendar adjustments. For December 2018, after revision of the preliminary results, there was an increase of 0.8 percent compared to November last year (provisional value: -0.4 percent).
Industrial production fell by 1.2 percent in January compared to the previous month. Within the industrial sector, production of capital goods decreased by 2.5 percent and output of intermediate goods decreased by 0.7 percent.
Further, the country exported goods worth 108.9 billion euros and imported goods worth 94.4 billion euros. As reported by the Federal Statistical Office (Destatis) on the basis of preliminary results, German exports were thus 1.7 percent in January 2019 and imports 5.0 percent higher than in January 2018. Calendar and seasonally adjusted exports remained unchanged compared to the previous month December 2018 almost unchanged; Imports increased by 1.5 percent.
The foreign trade balance closed in January 2019 with a surplus of 14.5 billion euros. In January 2018, the balance in the foreign trade balance was + 17.2 billion euros. Adjusted for the calendar and seasonally adjusted, the surplus of the foreign trade balance in January 2019 was 18.5 billion euros.
Meanwhile, the German DAX remained tad 0.21 percent higher at 11,481.60 by 10:05GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at -19.52 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
