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German ten-year yield at day’s low on Drgahi’s comments

FXStreet (Mumbai) - The German benchmark bonds rallied, pushing the yields lower after the European Central Bank (ECB) President Mario Draghi indicated risk of downward revision of Eurozone growth and inflation forecasts.

The Ten-year declined to 0.817%, from the day’s high of 0.838% after Draghi’s comments confirmed the disappointing Eurozone growth and inflation forecasts published by the European Commission earlier this week. Meanwhile, the ECB head also said that the central bank would start purchasing Asset Backed Securities (ABS) soon and shall continue to do so for 2 years.

German Ten-year Yield Technical Levels

The yield has an immediate support located at 0.802%, under which the yield can fall to 0.778%. Meanwhile, the yield has an immediate resistance at 0.838%, above which it can rise to 0.851%.

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