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German Bunds Lurk Near Key Support: Watch the Euro for Clues About Next Move

ByGregor Horvat
Published 02/15/2024, 03:43 AM

Markets are a bit slow and sideways on the FX front after volatile on Tuesday when the Dollar bounced following strong US CPI data. That's also when US yields came higher into resistance and stocks sold-off. Well, we already see stocks recovering pretty well, earising the losses from a few days back, while both Bund and US 10 year notes are making some first responses from support levels as well.
Below it's a comparison of bund and euro and you can see that's a very nice and tight correlation, so I think that if bund will go higher, the eur/usd will follow based on US-BUND rate differential. But for now, we can't say for sure if the bottom is already forming on the euro, but it can be coming if price regains back above 1.08.




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