Menu

Search

  |   Commentary

Menu

  |   Commentary

Search

German bunds gain after Eurozone March trade balance disappoints market expectations

The German bunds gained on the last trading day of the week Friday after eurozone’s trade balance disappointed market expectations, although the better-than-expected producer price index for the month of April cushioned further gains to the debt basket.

The German 10-year bond yields, which move inversely to its price, fell 1/2 basis point to 0.63 percent, the yield on 30-year note hovered around 1.33 percent and the yield on short-term 2-year traded flat at -0.55 percent by 09:30GMT.

The first estimate for euro area (EA19) exports of goods to the rest of the world in March 2018 was €199.9 billion, a decrease of 2.9 percent compared with March 2017 where they peaked at €205.9 billion. Imports from the rest of the world stood at €173.0 billion, a fall of 2.5 percent compared with March 2017 (€177.4 billion). As a result, the euro area recorded a €26.9 billion surplus in trade in goods with the rest of the world in March 2018, compared with +€28.5 billion in March 2017. Intra-euro area trade fell to €170.5 billion in March 2018, down by 0.6 percent compared with March 2017.

In January to March 2018, euro area exports of goods to the rest of the world rose to €555.7 billion (an increase of 2.5 percent compared with January-March 2017), while imports rose to €506.3 billion (an increase of 1.4 percent compared with January-March 2017). As a result, the euro area recorded a surplus of €49.4 billion, compared with €42.9 billion in January-March 2017. Intra-euro area trade rose to €485.6 billion in January-March 2018, up by 4.1 percent compared with January-March 2017.

Meanwhile, the German DAX traded 0.15 percent lower at 13,094.53 by 09:35GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bearish at -90.46 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex

Lastly, FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest

  • Market Data
Close

Welcome to EconoTimes

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