The German bunds fell Tuesday after the country’s ZEW economic sentiment index for the month of February beat market expectations; however, the downside was limited as investors await the manufacturing PMI for the similar period, scheduled to be released on February 22 by 08:30GMT.
The German 10-year bond yields, which move inversely to its price, rose 1/2 basis point to 0.73 percent, the yield on 30-year note also surged 1 basis point to 1.40 percent and the yield on short-term 2-year too traded 1 basis point higher at -0.49 percent by 10:15GMT.
The Mannheim-based ZEW research institute said its monthly survey showed its economic sentiment index fell to 17.8 from 20.4 in January. That was still better than the consensus forecast for a reading of 16.5. A separate gauge measuring investors’ assessment of the economy’s current conditions ticked down to 92.3 from 95.2 last month. That compared with the consensus forecast for a decrease to 93.9.
Meanwhile, the German DAX fell 0.28 percent to 12,351.07 by 10:20GMT, while at 10:00GMT, the FxWirePro's Hourly Euro Strength Index remained highly bearish at -149.02 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
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