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German 10-year yield weakens despite uptick in German GDP

FXStreet (Mumbai) - The benchmark bond yield in Germany weakened as the hopes of the European Central Bank (ECB) announcing a sovereign QE overshadowed a slight uptick in the third quarter GDP data.

The Ten-year yield traded at 0.768% at the time of writing, compared to the previous session’s close of 0.782%. The yield declined today, despite a sharp rise in the private consumption helped the German economy to post modest gains in the third quarter. Germany's gross domestic product rose 0.1% in the third quarter after a 0.1% contraction in the second quarter.

Moreover, the benchmark bond yields across the Eurozone hit record lows yesterday as investors are convinced that the ECB has not more options left other than a sovereign QE.

German 10-year yield Technical Levels

The yield has an immediate support located at 0.767%, under which losses could be extended to 0.724%. Meanwhile, resistance is seen at 0.790% and 0.807%.

Italy Retail Sales s.a. (MoM) remains unchanged at -0.1% in September

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