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Trading news
3 Nov 2014
German ten-year yield recovers after PMI data
FXStreet (Mumbai) - The German Ten-year bond yield recovered from an early slump after official data highlighted German factory activity rebounded in October after shrinking slightly in September.
The Ten-year yield currently trades at 0.837%; having recovered from the day’s low of 0.811%. The PMI index for the manufacturing sector, which accounts for about a fifth of the German economy, climbed to 51.4 from 49.9 in September, bouncing back above the 50 mark that denotes growth. The yields recovered from the day’s low after a positive, although the stock markets continue to remain under pressure. The Dax is down 0.35% to trade at 9295.00 levels.
Ten-year yield Technical Level
The yield has an immediate resistance at 0.843%, above which it can rise to 0.86%. On the flip side, support is seen at 0.833% and 0.828%.
The Ten-year yield currently trades at 0.837%; having recovered from the day’s low of 0.811%. The PMI index for the manufacturing sector, which accounts for about a fifth of the German economy, climbed to 51.4 from 49.9 in September, bouncing back above the 50 mark that denotes growth. The yields recovered from the day’s low after a positive, although the stock markets continue to remain under pressure. The Dax is down 0.35% to trade at 9295.00 levels.
Ten-year yield Technical Level
The yield has an immediate resistance at 0.843%, above which it can rise to 0.86%. On the flip side, support is seen at 0.833% and 0.828%.