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German Ten-year yield at day’s low on weak German CPI

FXStreet (Mumbai) - The German ten-year is trading at a day’s low after the official data showed a slowdown in the price pressures in October.

The ten-year yield is trading at 0.845%, down from the day’s high of 0.903%. The yields have been falling since the early morning trade tracking weakness in the equity markets. The CPI in October rose 0.7% year-on-year, compared to the market expectation of 0.9%. Moreover, the markets were expecting an increase in the price pressures. However, given the slump in the energy prices, it was unlikely that the CPI would rise more than expected. Month-on–month the prices fell 0.3%, compared to the expectation of 0.1% fall.

Ten-year yield Technical levels

The yield has an immediate support at 0.824%, under which it can fall to 0.811%. On the other hand, a strong resistance is seen at 0.9%.

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