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German 10-year Bund Yield trades at four-week low

FXStreet (Mumbai) - The ten-year bond prices in Germany inched higher today, pushing the yields at four week low despite the Germany economy narrowly avoiding recession in the third-quarter.

The ten-year yield traded at 0.788% at the time of writing, down from the day’s high of 0.799%. Moreover, the yields declined as the Eurozone CPI in October came-in at 0.4% year-over-year, remaining well below the 1% mark for the thirteenth consecutive month. Meanwhile, the Eurozone third-quarter GDP came-in at 0.8% year-over-year, higher than the expected print of 0.7%. Earlier today, the official data in Germany also showed the economy expanded by 0.1% over the period, meeting expectations.

Overall, the Eurozone economy continued to grow at a sluggish pace except a surprise boost from the French economy. Meanwhile, weak price pressures once again underscored the threat of deflation in the Eurozone.

German 10-year yield Technical Levels

The yield has an immediate support at 0.767%, under which losses could be extended to 0.724%. Meanwhile, resistance is seen at 0.8% and 0.802%.

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