TREASURIES-Bond prices rise as ECB cuts rates to record low
* ECB surprises markets by cutting rates
* GDP data due at 8:30 a.m. ET
* October nonfarm payrolls due on Friday, key for Fed outlook
NEW YORK, Nov 7 (Reuters) - Prices for U.S. Treasuries moved higher on Thursday as the European Central Bank surprised markets with an interest rate cut and investors looked ahead to growth data in the United States.
The European Central Bank cut its main interest rate on Thursday to a new record low of 0.25 percent, responding to a surprise drop in inflation by easing policy to support the euro zone's weak economic recovery.
"This move was unexpected and is behind the bid for Treasuries this morning," said Ian Lyngen, senior government bond strategist at CRT Capital Group.
Prices for U.S. benchmark 10-year Treasury notes rose 6/32 in price to yield 2.618 percent from 2.64 percent late on Wednesday.
The U.S. 30-year bond rose 6/32 in price to yield 3.761 percent from 3.77 percent late on Wednesday.
Investors were also awaiting key U.S. data later in the day: Third-quarter gross domestic product data are slated for release at 8:30 a.m (1330 GMT).
In addition, Friday will see the release of October nonfarm payrolls figures. Those data are key for the U.S. Federal Reserve.
Fed policymakers want to see the unemployment rate dropping closer to 6.5 percent from the current 7.2 percent, but economists in a Reuters survey expect that rate to have edged up in October to 7.3 percent.
However, the payroll figures were likely muddied by the federal government shutdown in the first half of October, prompted by an impasse when Congressional Republicans sought to undermine President Barack Obama's signature healthcare law as a condition of funding the government.