EU Stocks Break Losing Streak On EURUSD's Worst Day In Over 4 Months

Weakness in German unemployment data was shrugged off as JPY-carry provided the same post US-open lift that US stocks had to move European equities into the green on the day, breaking a 3-day losing streak. EURUSD is down 120 pips from the open of the EU session - its largest plunge in over 4 months as 1.32 looks set to be tested once again. European sovereign bonds traded in a narrow range but rallied modestly on the US open. Once again, it seems, it is all one trade for now...

The US open has been the catalyst for exuberance in Europe...

Charts: Bloomberg