German bunds gain after eurozone May retail sales misses market estimates; May IP in focus

The German bunds gained during European session Thursday after eurozone’s retail sales for the month of May, missed market expectations and also contracting from the reading in April.

Now, investors will keep a close eye on the country’s industrial production for the month of May, scheduled to be released on July 5 by 06:00GMT amid U.S. markets shutdown for further direction in the debt market.

The German 10-year bond yields, which move inversely to its price, slumped nearly 2 basis points to -0.402 percent, the yield on 30-year note suffered 1-1/2 basis points to 0.191 percent and the yield on short-term 2-year remained tad lower at -0.756 percent by 09:50GMT.

In May 2019 compared with April 2019, the seasonally adjusted volume of retail trade decreased by 0.3 percent in the euro area (EA19) and by 0.4 percent in the EU28, according to estimates from Eurostat, the statistical office of the European Union.

In April 2019, the retail trade volume decreased by 0.1 percent both in the euro area and in the EU28. In May 2019 compared with May 2018, the calendar adjusted retail sales index increased by 1.3 percent both in the euro area and in the EU28

Meanwhile, the German DAX traded tad higher at 12,624.73 by 09:55GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained slightly bullish at 99.99 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex