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German bunds trade higher post steady Eurozone March CPI; investors eye April manufacturing PMI

The German bunds traded higher Wednesday after reading the Eurozone’s March steady consumer price inflation (CPI) data. Also, investors are eyeing the country’s manufacturing PMI for the month of April, scheduled to be released on April 21 for further direction in the debt market.  

The yield on the benchmark 10-year bond, which moves inversely to its price, rose nearly 1 basis point to 0.18 percent, the long-term 30-year bond yields also climbed nearly 1 basis point to 0.90 percent and the yield on short-term 2-year bond also jumped nearly 3 basis points to -0.82 percent by 09:10 GMT.

Consumer prices in the Eurozone rose by an annual rate of 1.5 percent in March, down from two percent in February, according to the European Commission. Core inflation, which strips out the effects of volatile components in the price index, fell to 0.7 percent for the same period. However, European Central Bank (ECB) officials still expect the zone’s inflation to average 1.7 percent this year.

Meanwhile, the German stock index DAX Index traded 0.23 percent higher at 12,029.25 by 09:30 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 6.55 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

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June 23 14:30 UTC Released

USECRI Weekly Annualized*

Actual

3.4 %

Forecast

Previous

3.7 %

June 23 14:30 UTC Released

USECRI Weekly Index*

Actual

143.7 %

Forecast

Previous

144.0 %

June 26 08:00 UTC 565565m

GBIfo Expectations*

Actual

Forecast

Previous

106.5 k

June 26 08:00 UTC 565565m

DEIfo Business Climate*

Actual

Forecast

114.4 bln BRL

Previous

114.6 bln BRL

June 26 08:00 UTC 565565m

DEIfo Expectations*

Actual

Forecast

106.4 %

Previous

106.5 %

June 26 08:00 UTC 565565m

DEIfo Current Conditions*

Actual

Forecast

123.3 mln

Previous

123.2 mln

June 26 08:30 UTC 595595m

GBIfo Expectations*

Actual

Forecast

Previous

40.750 k

June 26 08:30 UTC 595595m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

40.750 k

June 26 11:00 UTC 745745m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

84.2 k

June 26 11:00 UTC 745745m

RUFGV Consumer Conf*

Actual

Forecast

Previous

84.2 %

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